Energy ministers pledge to facilitate clean energy

PARIS, France, May 25, 2005 (Refocus Weekly)

Developed nations must do more to facilitate cleaner energy systems around the world, according to the final communique issued by ministers of the International Energy Association.

“A sustainable lower-carbon future is clearly possible, but only through more rigorous policies, market-based instruments and by engaging the rest of the world,” the group notes. “We will do this directly and through existing mechanisms including G8, UNFCCC and elsewhere. This is a shared responsibility.”

“We can and will achieve a sustainable and secure energy future through stronger actions now” which include a curb on the growing energy import dependence as world reserves narrow to fewer sources, a reduction of economic vulnerability to high and volatile energy prices through increased energy efficiency measures, and a reduction of the environmental impact of the world’s growing reliance on fossil fuels.

IEA predicts that 85% of the world’s incremental energy needs over the next 25 years will be met by fossil fuels under a business-as-usual scenario, as global energy demand and carbon emissions both grow 60%. Under this scenario, carbon emissions from developing countries would double by 2030, surpassing the developed nations in the OECD, while 1.4 billion people would still have no access to electricity.

“We are not bound to any business-as-usual energy future,” and the ministers agreed that implementing policies under review now could reduce IEA consumption by 10% and CO2 emissions by 16% by 2030 below the reference scenario. End use efficiency would contribute 60% of this level, while the balance would be realized by generating plants that burn clean coal, as well as more natural gas and renewables “and nuclear power in those countries having chosen nuclear power as an option.”

“We can do better,” and the communique notes that energy efficiency in OECD nations improved after the oil shock of 1973, contributing a collective energy saving of 49%. Efficiency gains have slowed since the 1980s but “stronger policies now can reverse that trend” and the ministers committed to reinforcing efficiency efforts and noting that the IEA will monitor efforts.

“We can and will increase the efficient, cleaner use of fossil fuels, even as we identify and deploy cost-effective low or no-carbon fuels,” they agreed. “Accelerating energy technologies requires substantial private and public resources. We undertake to do our part to mobilize strong financial and policy support for these essential energy technologies.”

“With the lessons of the past and our vision of the future as guides, we will draw on the power of markets, the promise of technology and our policy resolve, to achieve for ourselves and the world, secure and sustainable energy for future generations,” and the ministers said the IEA will focus on improved transparency and analysis of energy markets, pursuit of energy efficiency, research cleaner combustion technologies and CO2 sequestration, and encourage “an improved investment environment to meet the challenges of future energy demand, much of which will occur in the developing world.”

There is a need to strengthen the flow of capital to the energy sector, with IEA estimating that investment of US$16 trillion will be needed in the energy sector by 2030. “We are witnessing underinvestment in power generation and transmission and up and down stream along the oil and gas value chains (and) we reaffirm our conviction that market forces must guide the shaping of these competitive markets as governments remove impediments to investment.”

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