The world needs to step up efforts to reduce greenhouse gas emissions, and use all available energy generation options, including nuclear power and carbon capture and storage, Nobuo Tanaka, executive director of the International Energy Agency, said Monday.
The world needs to step up efforts to reduce greenhouse gas emissions,
and use all available energy generation options, including nuclear power and
carbon capture and storage, Nobuo Tanaka, executive director of the
International Energy Agency, said Monday.
"We need much, much more effort," Tanaka told Dow Jones Newswires
after presenting the IEA's report on "Energy Technology Perspectives
2010" here. "
Europe
is a
very good leader toward that direction," he said.
In the report, the IEA outlines a way to achieve a 50% reduction in carbon
emissions by 2050 from current levels--a goal stated by a United Nations panel
to limit increases in the global temperature.
During his presentation Tanaka said the IEA has assessed the impact of pledges
made by various countries during last year's
Copenhagen
climate summit.
While those pledges fell short of what is necessary, if put into practice, they
nevertheless represent 70% of what is needed in greenhouse gas reductions to
reach the U.N. target, Tanaka said.
The IEA report estimates additional investment needs in the energy sector of
$17 trillion between now and 2050 to reach this target, or on average $400
billion a year.
Delaying action to reduce greenhouse gas emissions will only increase the
necessary investment sum, Tanaka warned.
"If we wait, the cost is getting higher and higher," Tanaka said. "Let's
act now."
Notwithstanding what a renewed international climate summit at the end of this
year in
Cancun
,
Mexico
, will
achieve, individual countries should invest heavily in more renewable and
nuclear energy, he said.
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