IEA: SEIZE THE OPPORTUNITY

According to IEA Work For The G8; 2008 Messages, a new International Energy Agency (IEA) report, global climate change requires “concerted global action” and presents “daunting energy challenges” but also offers opportunities.

Among the report's assertions: “…it is urgent for industrialized countries to seize today’s opportunities to develop a more sustainable energy path that can enable developing countries to leapfrog the polluting phase of economic growth…”

The report is the IEA’s response to the G8 request for a plan by which the world could build a “clean, clever, competitive energy future.”

The good news: The IEA report calls energy efficiency "the essential first step" and emphasizes the need for extensive development of New Energy. Sun, wind and wave can and should provide at least 46% of world electricity by 2050.

The other news: It also stresses the importance of developing carbon capture and sequestration (CCS) technology for coal-fired power generation.

The brilliant Amory Lovins (Rocky Mountain Institute) insists coal plants, like nuclear plants, are simply no longer economically competitive with wind, efficiency and cogeneration. Environmentalist movements like Greenpeace insist “clean” coal is an oxymoron because coal can never be a truly low-emissions source of energy.

Yet political leaders, aware that the huge emerging economies of Asia probably cannot be restrained from using coal to generate electricity for the rest of the 21st century, insist CCS technology must be perfected and delivered to Asia, sooner rather than later, if the worst impacts of global climate change are to be averted.

Considering how little concrete progress emerged from the G8 summit to which it reported, the IEA was really quite unequivocal:

“An energy revolution is needed. It will not be easy but the first steps are clear. Actions must address the need for energy supplies that are clean, secure and adequately fuel economic growth...A policy combination that does not provide a balance will not be sustainable. High energy prices provide an unforeseen opportunity to set a new course. We have identified most of the technologies. We recognise the challenges. What we lack is time because the challenges become more daunting the longer we delay. What we now need is implementation!”

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IEA says energy-climate crisis is opportunity for major change
July 9, 2008 (AFP via Yahoo News)

WHO
International Energy Agency (Nobuo Tanaka, Executive Director)

WHAT
In IEA Work For The G8; 2008 Messages, the IEA points out that worsening climate change and tightening energy supplies present the nations of the world with serious existential problems but also enormous economic and social opportunities.

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WHEN
- The report was presented to G8 leaders July 16. It is the result of work done by the IEA since 2005.
- The IEA report describes a set of actions by which the world can cut greenhouse gas emissions (GhGs) 50% by 2050.

WHERE
- The report was prepared for presentation to the G8 summit leaders at the meeting in Hokkaido, Japan. It began with a request from G8 leaders for a plan of action on global climate change at their 2005 meeting at Gleneagles, Scotland.
- The report begins with a call for “concerted world action…” and breaks action down into 4 major sectors: (1) End-use efficiency, (2) Power sector, (3) Industry fuel switching and CCS, and (4) Transport alternative fuels.

WHY
- The cost of cutting GhGs 50% by 2050: $1.1 trillion/year, $45 trillion total, 1.1% of global GDP.
- As a result of doing the report, the IEA has taken a series of actions: (1) Developed scenarios for CO2 cuts, (2) mapped technology development and financing, (3) developed a global database, (4) described energy efficiency measurement indicators, (5) recommended 25 areas for urgent action to implement efficiencies, (6) called for CCS, (7) concluded that building a serviceable infrastructure of New Energy, despite intermittency, is feasible, (8) initiated a dialogue to bring in Brazil, China, India, Russia and South Africa, (9) intensified dialogue with the private sector.
- The essential first step is developing efficiency: (1) across sectors, (2) in buildings (where 40% of energy goes), (3) in appliances and equipment, (4) in lighting, (5) in the transport sector (especially to cut oil use), (6) in industry, (7) in utilities.
- Power generation must cut emissions by using more New Energy (46% of electricity by 2050), implementing CCS and including nuclear.
- Transport must be “decarbonized.”

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QUOTES
- IEA: "High energy prices provide an unforeseen opportunity to set a new course…"
Nobuo Tanaka, Executive Director, IEA: "We are very pleased that G8 leaders are so engaged in finding and implementing these policies."
- Report: “Massive global reductions in CO2 emissions cannot be achieved without technological innovation and significant reductions in costs of existing technologies. Much more international collaboration will be decisive. All major economies, especially China and India, must be on board. Government-funded RD&D must play a greater role, linking its efforts with industry.”