New technologies could potentially offer a drastic reduction in carbon emissions and increase energy security, according to the International Energy Agency (IEA).

The Energy Technology Perspectives 2012 book launched today explains how technology can transform the energy system and generate huge benefits for the economy by 2050.

The publication also shows how improvements in energy efficient technologies can cut the global economy’s per-unit use of energy by two-thirds by 2050.

The book follows a previous report, which said most clean energy technologies are not reducing enough carbon emissions as they should do to provide a more secure energy system.

IEA Executive Director Maria van der Hoeven said: “If significant policy action is taken, we can still achieve the huge potential for these technologies to reduce CO2 emissions and boost energy security.

“Now that we have identified the solution and the host of related benefits and with the window of opportunity closing fast, when will governments wake up to the dangers of complacency and adopt the bold policies that radically transform our energy system? “

An IEA report in May said global carbon emissions hit a record high last year.