The International Energy Agency is in the hands of madmen, loony green dioxycarbophobes
Governments around the world must “level the playing field” to ensure clean energy technologies grow fast enough to prevent dangerous levels of global warming, says a new report released Wednesday by the International Energy Agency.
“Whether the priority is to ensure energy security, rebuild national and regional economies, or address climate change and local pollution, the accelerated transition towards a lower-carbon energy system offers opportunities in all of these areas,” said the report, Tracking Clean Energy Progress.
The agency, made up of 28 member countries including Canada, was created in 1974 to advise government about energy security. It has called on all governments to honour recent commitments made by G20 countries to phase out subsidies for the fossil fuel industry as part of a solution.
“The transition to a low-carbon energy sector is affordable and represents tremendous business opportunities, but investor confidence remains low due to policy frameworks that do not provide certainty and address key barriers to technology deployment,” said the report. “Private sector financing will only reach the levels required if governments create and maintain supportive business environments for low-carbon energy technologies.”
The report noted significant growth over the past decade of onshore wind energy and solar energy technology that have increased in size by 27 per cent and 42 per cent respectively. But it said overall renewable energy growth is not enough to prevent emissions from the fossil fuel industry to rise to levels that would push average global temperatures higher than two degrees Celsius above pre-industrial levels.
But the agency’s deputy executive director, Richard Jones, warned the existing global policies could send average global temperatures “at least six degrees Celsius higher.”