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World Energy Outlook

18 June 2015, Bloomberg

"Carbon Glut Limits German Options to Meet Emissions Target" A glut of European Union carbon-emission permits is limiting Germany’s options to meet its 2020 greenhouse gas-reduction target, according to the nation’s environment ministry. Europe will take years to eliminate its surplus before cost-effective climate strategies based on carbon markets will get traction, Dirk Weinreich, head of emissions trading in the ministry, said Monday. Germany wants to cut emissions at home to meet its most-immediate climate goal rather than just buy and retire pollution allowances, he said in an interview.

15 June 2015, Financial Times London

"Report: World can cap emissions by 2020 without harming economy" The goal of peaking greenhouse gas emissions to combat climate change could be achieved as early as 2020 with very little economic pain and no new technological fixes, according to a new report released Monday. The report, from the International Energy Agency (IEA), an international organization promoting affordable and sustainable energy solutions, suggests tackling the emissions mostly from the burning of fossil fuels could be done with five changes in the energy sector - some of them under way and others that have long been resisted especially in the developing world. It calls for increasing energy efficiency in the industry, buildings and transport sectors; reducing the use of the least-efficient coal-fired power plants and banning their construction; increasing investment in renewable energy technologies in the power sector from $270 billion in 2014 to $400 billion in 2030; gradually phasing out of fossil-fuel subsidies to end-users by 2030; and reducing methane emissions in oil and gas production.

15 June 2015, Financial Times London

LONDON, June 15 (Xinhua) -- China is playing a "very important and constructive" role in combating climate change, International Energy Agency (IEA) Chief Economist Fatih Birol has said. Birol, who is also the Executive Director-elect of IEA, made the remarks in an interview with Xinhua. He praises China's efforts in transforming its energy mix by investing huge money in renewable energies projects and improving energy efficiency.

15 June 2015, Financial Times London

"Renewable power will overtake coal if climate pledges are kept." The striking finding by the International Energy Agency shows renewable power could soar from just over a fifth of global electricity generation today to nearly a third by 2030 - a bigger share than either coal, gas or nuclear plants. This shows today's energy companies are making a "major fatal error" if they assume climate action is not going to affect their business, Fatih Birol, the IEA chief economist, said.

15 June 2015, The Guardian London

"Paris climate summit must be start of frequent carbon reviews, says IEA." The crunch climate change conference to take place in Paris later this year must be the beginning of a new process of five-yearly meetings, rather than a one-off, the world’s energy watchdog has warned. Fatih Birol, currently chief economist of the International Energy Agency, and its incoming executive director, said: “The pledges in Paris need to be renewed every five years. That is because circumstances change, the costs of technology go down, and so on. We need to take account of that.”

15 June 2015, Reuters London

LONDON - Countries' current pledges for greenhouse gas cuts will fail to achieve a peak in energy-related emissions by 2030 and likely result in a temperature rise of 2.6 degrees Celsius (3.6 degrees Fahrenheit) by the end of the century, the International Energy Agency said on Monday. An international deal to combat climate change is meant to be agreed in December but a meeting in Bonn, Germany, last week ended with little progress toward an agreement to keep average temperature rises within 2C.

15 June 2015, The Washington Post Washington D.C.

The world is off course to prevent two degrees C of warming, says energy agency In a major report to be released Monday, the Paris-based International Energy Agency — which provides independent energy analysis and has 29 member countries, including the United States — will state that current national commitments to cut greenhouse gases are ambitious but still insufficient to keep the world below two degrees Celsius of warming above preindustrial levels. At the same time, the agency will also offer a path forward, showing how the world, with a bit more ambition, could peak its emissions by the year 2020 and get onto a safer path.

15 June 2015, Bloomberg London

"Holding Back Climate Change Isn't as Hard as You Think" The global economy grew strongly last year without increasing greenhouse gas emissions, suggesting that government regulations, carbon markets and existing technologies are starting to bite in the battle against climate change. In a special report to help policy makers in the run-up to a major climate conference in Paris later this year, the International Energy Agency said the past year marks the first time that it has seen a decoupling of energy use and economic growth since being created as the energy watchdog for developed countries in the 1970s. Pledges already put forward for the Paris conference, including by the U.S., European Union and China, could hold temperature increases to 2.6 degrees Celsius. That’s significantly less of an overshoot than the 3.6-degree long-term gain in the IEA’s main scenario issued in November. The United Nations is trying to hold an increase in temperatures to 2 degrees Celsius (3.6 degrees Fahrenheit) by 2100.

15 June 2015, Financial Times London

"IEA Confirms global greenhouse gas emissions stalled last year. But new report warns world is still on track to comfortably exceed 2C temperature target" The growth in global carbon emissions stalled last year, according to the International Energy Agency (IEA), marking the first time in the last four decades greenhouse gas emissions have not risen outside an economic crisis. As anticipated the organisation's respected World Energy Outlook detailed how emissions were flat last year, fuelling hopes that economic growth and emissions growth has decoupled at a global level after several years during which a number of large industrialised economies have managed to successfully curb their emissions.

15 June 2015, Financial Times London

"India's solar power target not impossible, but difficult: Birol" As India gears up to reset the country’s solar mission target to 100,000 MW and 60,000 MW of wind power by 2022, the International Energy Agency’s (IEA) Chief Economist and Executive Director-elect, Fatih Birol, feels that the infrastructure and regulatory framework of the country will need to be in sync to make the target achievable. “The current government has the intent. By putting energy at the top of the policy agenda, the (Narendra) Modi government is making commendable progress toward steering India’s energy system onto a more secure and sustainable path. For example, India has set ambitious renewable energy targets. Achieving the solar PV (photo voltaic) target would require investments of at least $17 billion annually. This is not impossible, but difficult and challenging,” he told BusinessLine from London prior to the release of Paris-based IEA’s World Energy Outlook Special Report on Energy and Climate Change. With the momentum building for the 21st UN Conference of the Parties (COP21) in Paris in December, India has proposed separate brainstorming sessions to sort out contentious issues such as pre-2020 action, finance, technology, legal nature of the agreement and differentiation. Financing of green energy will be a key component in helping countries, such as India, meet their green targets.