The International Energy Agency (IEA) said that the full implementation
of these pledges would require the energy sector to invest $13.5 trillion in energy efficiency and low-carbon technologies
from 2015 to 2030, an annual average of $840 billion.
IEA said World Energy
Outlook special briefing that despite these efforts, the pledges still fall
short of the major course correction necessary to achieve the globally agreed
climate goal of limiting average global temperature rise to 2 degrees Celsius, relative
to pre-industrial levels.
The special briefing finds
that all of the submissions take into account energy sector emissions and many
include specific targets or actions to address them. “If these pledges
are met, then countries currently accounting for more than half of global
economic activity will see their energy-related greenhouse gas emissions either
plateau or be in decline by 2030.
Global energy intensity, a
measure of energy use per unit of economic output, would improve to 2030 at a
rate almost three times faster than the rate seen since 2000. In the power
sector, 70 per cent of additional electricity generation to 2030 would be
low-carbon. Significantly, the power sector – the world’s largest source of
energy-related carbon-dioxide (CO2) emissions – sees emissions plateau at close
to today’s levels, effectively breaking the link between rising electricity
demand and rising related CO2 emissions”, it noted.
It added that achieving the
ultimate climate goal will also hinge critically on innovation in the energy
sector and on the deployment of new and emerging energy sector technologies
that have the potential to deliver the transformational change needed to
achieve deep levels of decarbonisation in the decades to come. (guardian)
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