Tag Archives: carbon

Four energy policies can keep the 2 °C climate goal alive

Warning that the world is not on track to limit the global temperature increase to 2 degrees Celsius, the International Energy Agency (IEA) today urged governments to swiftly enact four energy policies that would keep climate goals alive without harming economic growth.

“Climate change has quite frankly slipped to the back burner of policy priorities. But the problem is not going away – quite the opposite,” IEA Executive Director Maria van der Hoeven said in London at the launch of a World Energy OutlookSpecial Report, Redrawing the Energy-Climate Map, which highlights the need for intensive action before 2020.

Noting that the energy sector accounts for around two-thirds of global greenhouse-gas emissions, she added: “This report shows that the path we are currently on is more likely to result in a temperature increase of between 3.6 °C and 5.3 °C but also finds that much more can be done to tackle energy-sector emissions without jeopardising economic growth, an important concern for many governments.”

New estimates for global energy-related carbon dioxide (CO2) emissions in 2012 reveal a 1.4% increase, reaching a record high of 31.6 gigatonnes (Gt), but also mask significant regional differences. In the United States, a switch from coal to gas in power generation helped reduce emissions by 200 million tonnes (Mt), bringing them back to the level of the mid‑1990s. China experienced the largest growth in CO2 emissions (300 Mt), but the increase was one of the lowest it has seen in a decade, driven by the deployment of renewables and improvements in energy intensity. Despite increased coal use in some countries, emissions in Europe declined by 50 Mt. Emissions in Japan increased by 70 Mt.

The new IEA report presents the results of a 4-for-2 °C Scenario, in which four energy policies are selected that can deliver significant emissions reductions by 2020, rely only on existing technologies and have already been adopted successfully in several countries.

“We identify a set of proven measures that could stop the growth in global energy-related emissions by the end of this decade at no net economic cost,” said IEA Chief Economist Fatih Birol, the report’s lead author. “Rapid and widespread adoption could act as a bridge to further action, buying precious time while international climate negotiations continue.”

In the 4-for-2°C Scenario, global energy-related greenhouse-gas emissions are 8% (3.1 Gt CO2‑equivalent) lower in 2020 than the level otherwise expected.

  • Targeted energy efficiency measures in buildings, industry and transport account for nearly half the emissions reduction in 2020, with the additional investment required being more than offset by reduced spending on fuel bills.
  • Limiting the construction and use of the least-efficient coal-fired power plants delivers more than 20% of the emissions reduction and helps curb local air pollution. The share of power generation from renewables increases (from around 20% today to 27% in 2020), as does that from natural gas.
  • Actions to halve expected methane (a potent greenhouse gas) releases into the atmosphere from the upstream oil and gas industry in 2020 provide 18% of the savings.
  • Implementing a partial phase-out of fossil fuel consumption subsidies accounts for 12% of the reduction in emissions and supports efficiency efforts.

The report also finds that the energy sector is not immune from the physical impacts of climate change and must adapt. In mapping energy-system vulnerabilities, it identifies several sudden and destructive impacts, caused by extreme weather events, and other more gradual impacts, caused by changes to average temperature, sea level rise and shifting weather patterns. To improve the climate resilience of the energy system, it highlights governments’ role in encouraging prudent adaptation (alongside mitigation) and the need for industry to assess the risks and impacts as part of its investment decisions.

The financial implications of climate policies that would put the world on a 2 °C trajectory are not uniform across the energy sector. Net revenues for existing renewables-based and nuclear power plants increase by $1.8 trillion (in year-2011 dollars) collectively through to 2035, offsetting a similar decline from coal plants. No oil or gas field currently in production would need to shut down prematurely. Some fields yet to start production are not developed before 2035, meaning that around 5% to 6% of proven oil and gas reserves do not start to recover their exploration costs. Delaying the move to a 2 °C trajectory until 2020 would result in substantial additional costs to the energy sector and increase the risk of assets needing to be retired early, idled or retrofitted. Carbon capture and storage (CCS) can act as an asset protection strategy, reducing the risk of stranded assets and enabling more fossil fuel to be commercialised.

To download the WEO special report Redrawing the Energy-Climate Map, click here.

To read Executive Director Maria van der Hoeven's comments at the report's launch, please click here.

To see the presentation that accompanied the report's launch, please click here.

Accredited journalists who would like more information should contact ieapressoffice@iea.org.

About the IEA

The International Energy Agency is an autonomous organisation which works to ensure reliable, affordable and clean energy for its 28 member countries and beyond. Founded in response to the 1973/4 oil crisis, the IEA’s initial role was to help countries co-ordinate a collective response to major disruptions in oil supply through the release of emergency oil stocks to the markets. While this continues to be a key aspect of its work, the IEA has evolved and expanded. It is at the heart of global dialogue on energy, providing reliable and unbiased research, statistics, analysis and recommendations.

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Redrawing the Energy-Climate Map

 

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Speed-dating, solar panels and the importance of process

The sun has set on the Pacific Energy Summitbut will the heat generated be channelled into sustainable development? This is the 635 million New Zealand dollar question.

Co-hosted by New Zealand and the European Union, the Summit brought together donor agencies, Pacific Island leaders and renewable energy companies. The goal was to help Pacific Island countries and territories move towards a target of generating 50% of their electricity from renewables. If, like us, you weren’t at the summit in person, you can watch the sessions online here. In effect, the Summit was speed-dating of sorts, bringing together:

  • Pacific Island countries and territories (PICTs) in need of renewable energy but without the financial resources, or technical and policy know-how;
  • donors with the resources (in the form of concessional loans and grants) and the ability to offer policy advice; and
  • renewable energy companies with the technical expertise to create and build the infrastructure.

This was speed dating with a cause though. Aimed at tackling a very real problem. As the UNDP’s Helen Clark emphasised in her talk at the summit, “the Pacific has the highest petroleum fuel dependency of any region or sub-region in the world … This heavy reliance on fuel imports exposes the islands to a high degree of price volatility, and takes away resources from important development priorities.” What the Summit did was respond to PICTs’ need for capital and technology. PICTs brought along a total of 79 renewable energy project proposals, and then it was up to donors and companies to make a date, matching themselves to projects. By the close of the Summit, over half of these projects had been committed to. This is impressive.

The focus on investment was deliberate. NZ’s Foreign Affairs Minister, Murray McCully, opened the Summit with a reference to his impatience arguing that we have the resources, we understand what is needed, but we are taking too long to deliver solutions. This is fair enough and we share his desire for results on the ground. But impatience brings the risk of failure. In the complex contexts of developing countries hasty aid is often wasted aid.

Already the Pacific is littered with malfunctioning renewable energy projects: solar panels that don’t work in Kiribati health clinics; broken generators damaging solar batteries in Tuvalu. There is a lot to learn about how to ensure that investments in renewable energy are sustainable. Yet, the Summit’s emphasis on selling renewable energy technology meant that, although there were many policy and technical specialists in the room, public discussion of the most important questions was scant.

Questions like: What are the exact pathways from renewable energy to human development? What else is needed to make sure the former leads to the latter? What level of investment in renewable technologies is warranted in each country? Who needs power most, and will large-scale, grid-connected infrastructure really meet their needs? What are the best ways to deal with the maintenance issues that sustainability relies upon? And do PICT governments have the capacity to negotiate with private providers or to manage large scale technical infrastructure? The answers to these questions are important and the summit missed an opportunity in not affording them more prominence. It was encouraging to hear Dominican Ambassador Vince Henderson speak eloquently on his country’s experiences of some of these challenges, but there needed to be a lot more of this.

The Summit was also problematic in that its focus on the goal of achieving renewable energy targets meant it overlooked an issue inherent in such targets. The easiest way for a country to meet a target of having a high proportion of its electricity come from renewable sources is often to devote most of its resources towards replacing non-renewable with renewable technology on the already existing electricity grid. Such an agenda ignores the need to widen access to electricity through expansion of the grid or smaller-scale off-grid rural electrification. For many PICTs, this means neglecting people that live in rural and remote areas – the very people who are more likely to be poor and to whom aid should be directed.

The focus on renewable funding projects and meeting energy targets also distracts from other important issues. One is the need for sound regulatory arrangements that determine pricing, and which consider affordability for poor households. Success in this area requires the navigation of complex institutional challenges.

Also, focusing on enhanced renewable electricity sources via big infrastructure projects may well mean neglecting the need for more action on energy efficiency – often a far cheaper way to reduce dependence on fossil fuel consumption. More

 

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$138 Million Maldives Renewable Energy Project Backed by World Bank Launched

The Energy Authority of Maldives has announced the inception of $138 million renewable energy project which would generate 26 MW of electricity in Maldives.

Abdul Matheen, State Minister for Energy revealed that the project is expected to be completed within five years. Out of a total 26 MW of generated electricity, 16 MW will be supplied to the Male region, which constitutes 30% of the total population of the country.


This project is a part of a renewable energy investment plan of the government which has been developed under the Sustainable Renewable Energy Project (SREP) of the Climate Investment Fund. The project would be funded by the World Bank, Asian Development Bank, and German and Japanese Banks.

According to the Energy Authority of the Maldives, the project will be extended to 50 islands to promote the use of renewable energy.


“We are making preparations to commence the project during next month. Under the project, ten islands would run solely on renewable energy. In addition, 30 percent of electricity in 30 islands will be converted to renewable energy,” Matheen detailed. More


 

 

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Richard Branson Addresses US Navy on Advanced Renewable Fuels

Richard Branson Addresses US Navy on Advanced Renewable Fuels

Published onOct 18, 2012byCarbonWarRoom

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The Carbon War Room's Aviation & Renewable Jet Fuel Operation's mission is to reduce the aviation industry's greenhouse gas emissions by accelerating the scale-up of a sustainable renewable jet fuel industry. Unlike road transport, air travel still doesn't offer the consumer a green travel option. It is our goal to try to bring about greener flights for all by getting non-petroleum fuels from demonstration stage to commercial use on the runway tarmac around the world. We will accomplish this by solving the information barrier, encouraging sustainable technologies and business models, and helping the industry cross the financial “valley of death”. In its current, nascent stage, getting the growth capital needed for commercial-scale production build-out is a major challenge. We are working with partners in the financial community, leading fuel purchasers, insurers, governments, and producers to help launch the industry, using the data and analysis contained in Elsevier Biofuel TechSelect and RenewableJetFuels.org. The Carbon War Room is working to achieve its mission by tackling the market barriers that currently face the renewable jet fuel industry.

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