There are still reasons to cheer in our fight against climate change. According to the respected International Energy Agency’s new report, global greenhouse gases emissions from energy remained flat in 2016 while the global economy grew by 3.1 percent.
Every year in late November, it is the same thing: the very respected International Energy Agency publishes its World Energy Outlook. This year’s edition is interesting in more than one aspect.
21 countries from Austria to the United States have cut their greenhouse gases emissions while growing their economies in the past 15 years. This proves that decoupling economic growth and greenhouse gases emissions is feasible.
Good news everyone ! According to the International Energy Agency, global carbon emissions related to the energy sector ” stalled ” last year. This took place in a time of global economic growth (+3% globally).
According to a report published in May by the International Energy Agency, the clean energy investments needed to limit temperatures from warming to 2 degrees Celsius: an additional $44 trillion ( 32 trillion euros ) by 2050.
This means spending an additional $1.2 trillion in cleantech ( like solar, wind, geothermal, bioenergy…. ) per year for the next 36 years is needed in order to limit climate risk. But this represent investments, not costs.
Indeed, these investments would result in over $115 trillion in fuel savings. This represent would a net savings of $71 trillion. (51 trillion euros).
A thousand billion dollars, this the kind of money we need to invest every year to keep the world from warming more than two degrees Celsius, according to the UN climate chief Christiana Figueres, quoting IEA figures.
In an interview with the Guardian, she stated that investments in clean technologies have to at least triple – from around $300 billion currently – in the next 15 years to avert a climate catastrophe.
Doing this would require involving the world’s biggest investors such as pension funds, insurance companies, foundations and investment managers, which control about $76tn in assets.
We have seen it quite a few times in the previous months : taxing carbon is a good idea as it already works in Australia, Ireland and British Columbia. Emissions reductions have been quite noticeable in all cases.
As a result, more countries will follow suit, such as the People’s Republic of China, South Africa and even France. The government of my home country indeed has stated that it will start taxing carbon in January 2014.
As a result, taxing carbon is one of the solutions at the disposal of the nations willing to slash their greenhouse gases emissions among cutting fossil fuels subsidies.
The World Energy Outlook from the International Energy Agency is a key publication when it comes to energy and climate issues as it presents key indicators, facts and trends from renowned experts.
This year the IEA outlined the importance of ending fossil fuels subsidies – which amounted to $544 billion / 400€ billion last year, five times more than for renewables – to unleash more of the potential of energy efficiency.
Ending these subsidies globally is thus a vital necessity as current greenhouse gases emissions and carbon intensity would propel us in a warming of 3.6°C, ie. the end of our civilization.
You know it if you have been reading this blog for some time : I am quite passionate about energy efficiency and its huge potential. Now here come two major reports that will hopefully transform you in energy efficiency enthusiasts.
The International Energy Agency ( IEA ), the OECD energy office, have published recently a great report on energy efficiency, an often overlooked solution to climate change, energy scarcity and peak oil, and increasing energy prices.
The Natural Resources Defense Council (NRDC) have found equally interesting figures for the United States in one of their latest studies.