October 28, 2021

The Queens County Citizen

Complete Canadian News World

The energy transition is “very slow”; The world is experiencing “chaos”

The energy transition is “very slow”;  The world is experiencing “chaos”

Starting Agency Serious warnings in the direction the world is taking, Published in its annual report two weeks before the launch of UN COP26 in Glasgow.

A A new economy has emerged : Batteries, hydrogen, electric vehicles, she said.

But all this progress has been countered Status quo and resistance to fossil fuels : Oil, gas and coal still account for 80% of final energy consumption, producing three-quarters of climate change.

To date, states’ climate commitments, if they are kept, allow only 20% reductions in greenhouse gas (GHG) emissions needed by 2030 to control global warming and only 40% reductions to allow carbon neutrality by 2050.

Investments in low carbon energy projects for carbon neutrality should triple in 10 years by 2050, Captures the directorOut, Fatih Birol.

Although the Kovid-19 crisis has halted progress in electrification, funding for developing countries, especially in sub-Saharan Africa, is crucial, especially in avoiding coal-fired power plants.

L ‘Out Describes three scenarios for the future:

First of all, the states are continuing as they are today: clean energy is developing, while growing demand and heavy industries are keeping emissions at current levels. Warming reached 2.6 C compared to the previous industrial level, guaranteeing manageable consequences from 1.5 C.

Second, states apply their commitments, especially to the carbon neutrality of more than 50 of them, including the European Union. Demand for fossils will increase by 2025 (via energy efficiency and the electric car boom). The temperature rise is at 2.1 C.

The third option is carbon neutrality, below 1.5 C, It requires big efforts, but offers significant health benefits such as economic development, SaysOut.

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Facing instability by focusing on the new energy economy

Additional funding is required They weigh less than they appear, She adds: 40% of emissions reductions Pay for themselves, By energy efficiency, these technologies are already highly competitive against methane leaks or solar or wind farms.

L ‘Out Stressed that the current general investment deficit affects not only the climate, but also prices and supply Fluctuations The world today is facing post-Kovid tensions over fossil fuels.

In recent years, declining gas and oil prices have led to limited investment in the sector, while switching to clean energy has been too slow to meet demand, explainsOut.

Global energy markets are at risk of escalating turmoil, Mr. Birol Underlines.

We are not investing enough to meet future needs, and these uncertainties are preparing us for volatile times.

A quote from:Fatih Birol, AEI Director

The answer is obvious: Invest heavily and quickly in pure energy, To ensure short- and long-term needs.

If not, The risk of destabilizing instability increases over time, Adds the report, which emphasizes the importance of the transition Affordable to all citizens.

A new energy economy with the potential to create millions of jobs is emerging, Said Fatih Birol, who called the leaders at COP26 Do your part by turning 2020 into a decade of massive expansion of carbon-free energy.