In its much anticipated report, "World Energy Outlook 2009," the International Energy Agency (IEA) outlines an energy plan which it believes will mitigate the effects of climate change.
The IEA's plan, entitled, the 450 Scenario sets out an aggressive timetable to actions which are required to limit the long-term concentration of greenhouse gases in the Earth's atmosphere to 450 parts per million of carbon-dioxide equivalent. Keeping atmospheric concentrations of greenhouse gases at this level will also limit the global temperature rise to around 2°C above pre-industrial levels.
So, what does the 450 Scenario involve? First and foremost, heavy development and implementation of energy efficient technologies. According to the 450 Scenario, by 2030 energy efficiency will account for over half of the reduction in greenhouse gas emissions.
Furthermore the scenario states that by 2030, low-carbon energy technologies will produce 60% of global electricity: renewable technologies (37%); nuclear (18%) and energy plants fitted with carbon capture and storage technology (5%). Finally, by 2030 car sales will have shifted dramatically, with hybrids, plug-in hybrids, and electric vehicles, representing nearly 60% of car sales (currently these vehicles represent 1% of car sales).
So, how much will the 450 Scenario cost, approximately? The IEA estimates this plan will need an incremental investment of $10.5 Trillion by 2030.
Nobuo Tanaka, Executive Director of the IEA said for the 450 Scenario to be successful every area of the world has to be involved: "Only by mitigation action in all sectors and regions can we turn the 450 Scenario into reality."
Read the full story at the International Energy Agency: The time has come to make the hard choices needed to combat climate change and enhance global energy security, says the latest IEA World Energy Outlook [pdf.]
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