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Found 2 results

  1. New data from the International Energy Agency (IEA) shows that global CO2 emissions stalled at about 32 billion tonnes in 2014, the same number as in 2013. And even better, this happened while the global economy actually grew. It therefore marks the first time in 40 years that such a halt or reduction in emissions wasn’t tied to an economic downturn. This could suggest that climate change mitigating efforts could be having a more noticeable effect than previously thought. “This is both a very welcome surprise and a significant one,” said IEA Chief Economist Fatih Birol. “It provides much-needed momentum to negotiators preparing to forge a global climate deal in Paris in December: for the first time, greenhouse gas emissions are decoupling from economic growth.” There have only been three times – the early 1980's; 1992 and 2009 – in which emissions have stood still or fallen compared to the previous year, and all were associated with global economic weakness. In 2014, however, the global economy expanded by 3%. This remarkable change is most likely due to an increase in more sustainable and renewable energy sources. The IEA themselves attributes this to changing energy consumption patterns in mainly China and OECD countries. In 2014, China increased their share of electricity generated from renewable sources – such as hydropower, solar and wind – and burned less coal. In the more developed OECD countries, the IEA points towards increased focus on sustainable growth, including greater energy efficiency and more renewable energy being deployed. “An important factor could be that China’s coal consumption fell in 2014, driven by their efforts to fight pollution, use energy more efficiently and deploy renewables,” said Professor Corinne Le Quere, of the Tyndall Centre for Climate Change Research at the University of East Anglia. “Efforts to reduce emissions elsewhere will have played a role, but there are also more random factors such as the weather and the relative price of oil, coal and gas.” This is obviously good news. A decoupling of economic growth from greenhouse gas emissions would be highly welcomed. But while all of this is encouraging, it shouldn’t make us lose focus, we need to continue to increase our efforts to mitigate climate change. It’s still too early start talking about a new trend, because we cannot draw too many conclusions on data that only shows one year of emissions. "The latest data on emissions are indeed encouraging, but this is no time for complacency – and certainly not the time to use this positive news as an excuse to stall further action," said IEA Executive Director Maria van der Hoeven.
  2. The International Energy Agency (IEA) says in a newly released report that the longer we wait, the more expensive it becomes to decarbonize our energy systems. According to the Paris-based organization, cutting carbon emissions from power generation now through 2050 requires investments of up to $44 trillion – up by 22 percent since 2012. The increased costs is mainly due to a growing use of coal that outweighs the implementation of renewable energy globally. To be able to limit global warming to safe levels, i.e. the 2-degrees Celsius target world leaders have endorsed, the world need to more than triple the use of renewable energy, nuclear power, and carbon capture and storage (CCS) technologies. But IEA says the current progress of transforming our energy systems is “bleak” with emerging economies, such as India, facing the toughest challenges. “We must get it right, but we’re on the wrong path at the moment,” said IEA Executive Director Maria van der Hoeven, who launched the report during the Fifth Clean Energy Ministerial meeting in Seoul. “Growing use of coal globally is overshadowing progress in renewable energy deployment, and the emissions intensity of the electricity system has not changed in 20 years despite some progress in some regions. A radical change of course at the global level is long overdue,” she said. But there are some good news in the report as well. The deployment of renewable energy is growing globally, and in some areas renewables are competitive with fossil fuels. And further investments in renewable energy, nuclear power and CCS would actually offer more benefits than costs. According to IEA, spending $44 trillion to transform our energy systems would yield more than $115 trillion in fuel savings.