Energy efficiency seen easy way to aid climate: U.N.

VIENNA (Reuters) – Energy efficiency for power plants, buildings and cars is the easiest way to slow global warming in an investment shift set to cost hundreds of billions of dollars, the United Nations said on Tuesday.

A U.N. report about climate investments, outlined to a meeting in Vienna of 1,000 delegates from 158 nations, also said emissions of greenhouse gases could be curbed more cheaply in developing nations than in rich states.
The cash needed to return rising emissions, mainly from burning fossil fuels, to current levels by 2030 would amount to 0.3 to 0.5 percent of projected gross domestic product (GDP), or 1.1 to 1.7 percent of global investment flows in 2030, it said.

“Energy efficiency is the most promising means to reduce greenhouse gases in the short term,” said Yvo de Boer, the head of the U.N. Climate Change Secretariat, presenting the report to the August 27-31 meeting.

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He said the study could help guide governments, meeting in Austria to try to work out a longer-term fight against global warming beyond the U.N.’s Kyoto Protocol. The protocol binds 35 rich nations to cap emissions of greenhouse gases by 2008-12.

The report estimates that “global additional investment and financial flows of $200 billion-$210 billion will be necessary in 2030 to return greenhouse gas emissions to current levels,” including measures for energy supply, forestry and transport.

Energy efficiency in power plants would help, along with measures such as greater fuel efficiency for cars or better insulation in buildings. The study foresees a shift to renewable energies such as solar and hydropower, and some nuclear power.

Environmental New Network