The IEA report confirmed that, despite a strong rise in the use of renewable energy technologies, fossil fuels will still represent 75% of the global energy mix by 2035. Moreover, the report warned that energy-related carbon emissions will continue to rise, increasing by 20% by 2035, leading to a long-term average temperature increase of 3.6 °C, far above the international target of 2 °C.
Speaking following the launch of the report, Dr. Graeme Sweeny, Chairman of the Zero Emissions Platform (ZEP) commented: "Recent reports from the Intergovernmental Panel for Climate Change (IPCC) and the United Nations Environment Programme (UNEP) have emphasized the urgent need to mitigate CO2 emissions to prevent irreversible damage from climate change. The World Energy Outlook is another piece in this puzzle that confirms the urgent need for technologies that can mitigate CO2 emissions from large scale fossil fuel use."
"Carbon Capture and Storage (CCS) is an unequivocal part of the path to decarbonisation. It is the only proven technology that can capture at least 90% of CO2 emissions from the power sector and energy intensive industries. Together, these sectors produce the majority of the world’s CO2 emissions. It is a real solution to a real problem and we must act in realizing this important technology before it’s too late."
In its 2°C Scenario (2DS), the IEA stresses that CCS will need to contribute to 1/6th of the CO2 emission reductions required in 2050 and in previous scenarios calculated that the costs of climate change mitigation will be 40% higher without CCS.
However, Europe, previously a world leader in championing CCS, is currently falling behind on the commitments needed to deliver this vital technology, says the ZEP.
“CCS is crucial to achieving European CO2 emissions reduction objectives and needs to be fully integrated into a holistic EU Climate and Energy Policy framework for 2030. Urgent political action to reset the EU CCS programme is needed. Failure to act now will mean Europe will miss its commitment to reduce Greenhouse Gas (GHG) emissions by 80-95% by 2050”, Dr. Sweeney concluded.