Global energy policy- "The time to act is now" says IEA

The international community needs to enact a “bold change of policy direction” to avoid an environmentally-damaging and insecure energy future, the International Energy Association warned today. Speaking at the launch […]

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By Tom Gibson

The international community needs to enact a “bold change of policy direction” to avoid an environmentally-damaging and insecure energy future, the International Energy Association warned today.

Speaking at the launch of their flagship analysis ‘World Energy Outlook’, IEA members predicted a grim future through current policies remaining in place, but insisted it was not too late for change. A carbon-free renewable future is a long way off and if anything, we shall be much more reliant on fossil fuels due to the effects of rising populations and growth of non-OECD economies.

The IEA delivered future predictions, which included a rise in oil demand up from 87 million barrels per day in 2010 to 99mb/d in 2035; coal use rising 65% by 2035; China consolidating its position as the world’s largest energy consumer and a precarious situation remaining over climate change as energy policies negatively impact upon a minimum 2°C rise.

Maria van der Hoeven, IEA Executive Director said: “We cannot continue to rely on insecure and environmentally unsustainable uses of energy. Governments need to introduce stronger measures to drive investment in efficient and low-carbon technologies.

“$38 trillion of investment is needed to satisfy the rising energy needs for 2035. The longer we wait, the more expensive and less likely it will be. The time to act is now.”

The body, set up after the 1973 oil crisis, works to ensure affordable and clean energy for its mostly western 28 member countries.