Latest findings of International Energy Agency on Carbon dioxide emission and steps to curb GHG emissions

Latest findings of International Energy Agency on Carbon dioxide emission and steps to curb GHG emissions

Question - Development has to be sustainable for it to be truly growth oriented. Discuss the latest findings of the International Energy Agency on CO2 emissions and steps taken to curb GHG emissions.

International Energy Agency/IEA has just released data pertaining to CO2 emissions on March 13, 2015. As per this, global CO2 emissions from the energy sector became “stalled” in the year 2014.

• According to preliminary data, global CO2 emissions stood at 32.3 billion tonnes in the year 2014
• This is the same as the year before this
• Data also indicated efforts to engage in climate change mitigation will exert a pronounced impact on emissions than previously suggested

Causes for the Stalling of Carbon dioxide emissions

• As per the IEA, cause for halt of CO2 emissions is none other than change in the patterns of energy consumption in China as well as OECD nations
• China has generated electricity from renewable sources in the year 2014 including solar, wind and hydropower
• It has also burned less fossil fuels such as coal
• OECD nations have also sharpened the focus on production of renewable energy
• They have also embarked on a path towards greater efficiency of energy
• Regarding CO2 Emissions and Economic Growth
• This marks the first time in 4 decades that there was reduction/stalling of CO2 emissions
• This is despite the global economy reaching a growth rate of 3% in 2014
• This marks the first decoupling of economic growth and carbon dioxide emissions
• Prior to this, all the 3 times in 1980s, 1990s and 2000s that global CO2 emissions have stalled or reduced have been associated with lack of economic growth
• This will enable nations to combat climate change while on a path to sustainable development

Steps Towards Reducing GHG Emissions

• By 31 March 2015, countries of developed and developing nations have to declare their commitment towards lowering GHG emissions to limit rising global temperature to 2 degree celsius as against pre-Industrial Revolution levels

• EU has announced a 40% cut in emissions by the year 2030. US has announced a plan to slash close to 26 to 28 percent of emissions by 2025 compared to 2005 levels

• As far as the developing world is concerned, China will attain a peaking of CO2 emissions in 2030 and peak early to increase the share of non-fossil fuels in primary energy consumption close to 20% by 2030

• India has made a pledge at COP2009 to lower the intensity of carbon emitted for the same amount of economic output ranging from 20 to 25% over 2005 levels by the year 2020

Facts and Stats

About IEA:

• International Energy Agency is an autonomous organisation working towards promotion of renewable, clean energy
• It has 29 member countries
• Its 4 main areas of focus include:
• Energy security
• Economic Development
• Environmental Awareness
• Engagement with Member Nations and the World
• IEA was founded in response to the 1973-74 oil crisis and its aim was to help reduce key disruptions in oil supply through the means of emergency oil stocks
• The Executive office of the IEA comprises the Executive Director, Deputy Executive Director and concerned advisors and support staff
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