The agency said the target can be met using only proven technologies and policies and without having to change the economic or development forecasts of any region.
Governments are urged to focus on increasing energy efficiency in the industry, buildings and transport sectors; reducing the use of the least-efficient coal-fired power plants and banning their construction.
The measures also include increasing investment in renewable energy technologies to $400bn in 2030 from $270bn in 2014.
The report also urged to phase out of fossil-fuel subsidies to end-users by 2030 and cut methane emissions in oil and gas production.
IEA executive director Maria van der Hoeven said: "As IEA analysis has repeatedly shown that the cost and difficulty of mitigating greenhouse-gas emissions increases every year, time is of the essence.
"It is clear that the energy sector must play a critical role if efforts to reduce emissions are to succeed. While we see growing consensus among countries that it is time to act, we must ensure that the steps taken are adequate and that the commitments made are kept."
The study comes ahead of the 21st UN Conference of the Parties (COP21) in Paris in December this year.
IEA proposed four key pillars to make COP21 a success, which includes setting the conditions to achieve an early peak in worldwide energy-related emissions.
It adds a five-year revision of national climate targets will raise ambition and lock in the vision will translate the global climate goal into a collective long-term emissions goal. An established process is also proposed for tracking achievements in the energy sector.
Image: A peak in worldwide energy-associated emissions is expected to be achieved by 2020. Photo: courtesy of worradmu/FreeDigitalPhotos.net.