IEA: Global Economic Downturn Offers Climate Perks

According to the IEA (International Energy Agency), the world can capitalise on the current global economic downturn by investing in new energy-efficient technologies as a means of tackling climate change.   The agency’s latest prediction for 2009 worldwide greenhouse gas emission levels is now a three per cent drop – more than was forecast earlier in the year.  If governments around the world are proactive in financing new clean technology ventures, there is a chance of keeping the average global temperature increase under the two-degree aim laid down by G8, the IEA advises. 

“The message is simple and stark: if the world continues on the basis of today's energy and climate policies, the consequences of climate change will be severe”, Nobuo Tanaka – executive director at the agency – asserted, adding: "energy is at the heart of the problem - and so must form the core of the solution."

Global Greenhouse Gas Emissions

Not only will the recession probably drive down emissions by three per cent, but its impact will affect future global greenhouse gas emission levels to a greater extent than if it had not taken place.  For example, global emissions for the year 2020 are now expected to come in at five degrees below earlier, pre-recession projections.  Energy efficient technologies and practices are likely to yield the most significant reductions in emissions of CO2 and other greenhouse gases, according to the IEA.
 
The IEA highlights a string of national climate strategies, which vary according to relative economies.  If implemented, its recommendations would result in C02 levels representing 450 parts for every million in the atmosphere – a stabilisation that, some believe, lays down the tracks for an overall sub-two-degree temperature rise.  If not implemented, CO2 concentration could hit a ceiling of 1,000 parts per million (ppm) by around 2050 and this, say scientists, will trigger disaster on an irrecoverable level.

So, says the agency, developed nations need to achieve an overall 17 per cent greenhouse gas emissions reduction by 2020, and to have reduced emissions by half just one decade later.  In some contrast, undeveloped nations still have some scope to actually increase greenhouse gas emissions.

Climate Change and the Economy

The IEA’s latest emissions figures and its recommendations on climate change and the economy form part of its wider World Energy Outlook – part of the contents of which have emerged during the United Nations climate discussions currently taking place in Bangkok. 

“Continuing the current energy policies would have catastrophic consequences for the climate”, the chief of the UN’s Framework Convention on Climate Change, Yvo de Boer stated.

“This is a unique opportunity... to transition the global energy system.”

See also:

Recession to Cut 2009 CO2 Emissions by 2%

How has the Recession Helped the Environment?