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‘Natural gas, renewable energy usage to curb emissions’

By Roseline Okere
02 July 2015   |   11:31 pm
Use of coal and oil needs to decline after 2020, and natural gas, to be replaced by nuclear and renewable energy, for the world to begin curbing emissions in the next decade, according to the International Energy Agency (IEA). The IEA enumerated several policies that would lead to a peak in energy-related emissions by 2020,…

Flare-25Use of coal and oil needs to decline after 2020, and natural gas, to be replaced by nuclear and renewable energy, for the world to begin curbing emissions in the next decade, according to the International Energy Agency (IEA).

The IEA enumerated several policies that would lead to a peak in energy-related emissions by 2020, recommending profound changes in energy consumption ahead of a key U.N. climate change summit this year.

The agency said that a peak in global energy-related emissions could be achieved as early as 2020 and at no net economic cost, the IEA said in its new World Energy Outlook Special Report on Energy and Climate Change.

The agency showed how to achieve an early peak in emissions as one of four key pillars that it believes are needed to make the upcoming UN climate talks a success, from an energy perspective.

The IEA proposes that the following four key pillars are needed to make COP21 a success, from an energy perspective: “As IEA analysis has repeatedly shown that the cost and difficulty of mitigating greenhouse-gas emissions increases every year, time is of the essence,” said IEA Executive Director Maria van der Hoeven. “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.”

It added that a peak in global energy-related emissions could be achieved as early as 2020 if governments implement just five key policy measures.

This major climate milestone is possible utilising only proven technologies and policies, and without changing the economic and development prospects of any region. Intended as an effective bridge to further action, the five measures 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.

Increasing investment in renewable energy technologies in the power sector from $270 billion in 2014 to $400 billion in 2030: Gradual phasing out of fossil-fuel subsidies to end-users by 2030; Reducing methane emissions in oil and gas production.

The IEA report highlights the need for climate pledges for COP21 to be viewed as the basis from which to create a “virtuous circle” of increasing ambition, and advocates, as its second pillar, a five-year review cycle to test the scope for further action. Both the situation and the solutions are evolving rapidly: the world’s shrinking “carbon budget” means that any delay in taking action can be costly, while the pace of energy sector innovation means that a five-year review would allow national targets to keep up with events and help build investor confidence.

As its third pillar, the IEA recommends that the goal of keeping the increase in long-term average global temperatures to below two degrees Celsius (2 °C) also be expressed as a long-term greenhouse-gas emissions target, making it more straightforward to apply in the energy sector. Doing so would help anchor future expectations, guide investment decisions, provide an incentive to develop new technologies, drive needed market reforms and spur the implementation of strong domestic policies, such as carbon pricing – all of which are necessary to meet the 2 °C goal.

The final pillar proposed by the IEA report is that the COP21 agreement establishes a strong process for tracking progress in the energy sector. Tracking national progress would both provide clear evidence of results, reassuring the international community that others are acting diligently, and identify countries that are struggling with implementation, enabling assistance to be provided if needed. In recognition of this need, the IEA report sets out appropriate metrics to monitor energy sector decarbonisation.

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