by Graeme » Sun 29 Apr 2012, 21:14:38
The key point is stated in the first paragraph:
$this->bbcode_second_pass_quote('', 'T')he transition to a low-carbon energy sector is affordable and represents tremendous business opportunities, but investor confidence remains low due to policy frameworks that do not provide certainty and address key barriers to technology deployment.
So our survival will depend on government policy that affects low-carbon energy investment.
The conclusion by the IEA is similar to that recently published by
Deutsche Bank Climate Change Advisors:$this->bbcode_second_pass_quote('', 'T')he DB Climate Change Advisors has released its latest Global Climate Change Policy Tracker report [PDF], its fourth. The report has quite a bit of interesting info in it. Most important, from a global perspective, is that “the best case global outlook” based on potential current targets still leaves us is with “a 5.8Gt ‘gap’ compared to a 450ppm stabilization pathway.” And even 450ppm is way to high according to top climate scientists.
In an email from someone at DB, a couple of the key takeaway points they saw were:
China, Germany, Brazil and many of the Nordic countries have strong policy regimes in place to meet their mandates, whilst the rest of the EU and other emerging economies’ policy regimes remain mixed.
The US and Italy in particular remain challenged in meeting their clean energy mandates. However, in terms of emissions, an aggressive coal to gas switch can have a valuable effect in the US.
I primarily agree. However, in light of recent research on natural gas, I think more emphasis needs to be placed on growing out the US’ truly clean energy economy.
Overall, though, the message of this report is quite similar to the IEA’s recent annual report — yes, we’re moving forward, but we’re still moving way too slowly.