The International Energy Agency (IEA) released its World Energy Outlook (WEO) Special Report on Energy and Climate Change on 15 June 2015, just months ahead of the highly anticipated COP-21 in December. It sets out, amongst other things, the four pillars the IEA identifies for success at COP-21 from an energy perspective. These include:
- Peak in emissions: the IEA proposes a bridging strategy to deliver peak global energy-related emissions by 2020
- Five-year revision: implement a five-year review cycle of mitigation targets to allow for increased levels of climate ambition
- Lock in the vision: translating the established climate goal in a clear, collective long-term emissions goal, provides greater clarity and certainty to the energy sector
- Track the transition: a process of tracking is needed to monitor the impact of pledges
In relation to peaking emissions, the report first notes that energy-related emissions stalled in 2014 – the first time in 40 years outside of the economic crisis. It then also lays out a Bridge Scenario, which it proposes will deliver a peak in energy-related emissions by 2020, consisting of five achievable measures:
- Increasing energy efficiency
- Reducing use and preventing construction of inefficient coal power plants
- Increasing investment in renewables
- Phasing out fossil fuel subsidies by 2030
- Reducing methane emissions from oil and gas production
More detailed information can be found in the IEA’s website.
- Climate & Energy
- 02 July 2015