IEA report highlights key energy policies to limit temperature rise

The International Energy Agency (IEA) has released a new report that has outlined four energy policies that are needed if the target of limiting global temperature increase to 2 degrees Celsius is to be achieved.

The report, titled “Redrawing the Energy-Climate Map,” has suggested four different economic, energy policies that will help keep the increase in global temperature to a minimum by 2020. The four policies were part of the report’s 4-for-2 degrees Celsius scenario which is specifically formulated with the aim of reducing emissions by the target year.

The first policy would be to make the industry, buildings, and transport sector adopt stringent energy efficiency measures. This step could reduce emissions by as much as half in 2020.

The second policy has outlined how a ban on the construction of inefficient coal-fired power plants and the phasing out of existing ones. This type of policy will not only account for a 20 per cent reduction of emissions in 2020, but it will also be a huge step against local air pollution. For this to be done though, power generation from renewable sources and natural gas must be increased.

Minimising the amount of methane leakage coming from upstream oil and gas operations, transmissions and distribution pipelines is the third suggested policy since methane is known to be 25 times more potent than carbon dioxide when it comes to its Global Warming Potential. Reducing methane emissions can account for 18 per cent of emissions reduction.

The last policy that the report suggested is to partially phase out subsidies on fossil fuel consumption – which can account for 12 per cent reduction in emissions. According to the report, subsidies on fossil fuel encourage excessive and wasteful use thereby further increasing emissions.

Delaying any action or failure to adopt these types of policies before 2020 could mean a significant increase in costs to the energy sector, increasing its likelihood to be retrofitted, stopped, or retired.

Following the release of the report, various agencies and organizations have expressed their thoughts regarding the four policies that I.E.A. is pushing.

Samantha Smith, the leader of the World Wide Fund for Nature Global Climate and Energy Initiative, welcomes the ideas of the report, specifically sighting energy efficiency standards and reducing methane emissions as great ideas. However, Ms. Smith said that instead of partially phasing out fossil fuel subsidies, I.E.A. should push for the full phasing out of all fossil fuel subsidies.

Dr. Stephen Singer, the W.W.F. director for Global Energy Policy, said that instead of phasing out all inefficient coal plants, a better option would be to reduce the overall coal carbon dioxide emissions for all existing power plants by 20 per cent come 2020.

President and chief executive officer of the World Resources Institute Andrew Steer pointed out that the common assumption of emissions reduction being costly is flawed, when in fact it is inaction that would cost more, not to mention the risk that comes with it.