7th March 2024
“The International Energy Agency Agency (IEA) is a Paris-based autonomous intergovernmental organisation, established in 1974, that provides policy recommendations, analysis and data on the global energy sector. The 31 member countries and 13[1] association countries of the IEA represent 75% of global energy demand… The core activity of the IEA is providing policy advice to its member states and Associated countries to support their energy security and advance their transition to clean energy.[3] Recently, it has focused in particular on supporting global efforts to accelerate clean energy transition, mitigate climate change, reach net zero emissions, and prevent global temperatures from rising above 1.5 °C.” (https://en.wikipedia.org/wiki/International_Energy_Agency)
It seems strange that the membership does not include any of the oil states from the Middle East, and very few African nations who surely have an equally vested interest in energy security.
Back in 2021, the IEA declared that the exploitation and development of new oil and gas fields must stop if the world was to stay within safe limits of global heating and meet the goal of net zero emissions by 2050. It is thus worrying that so many countries and so many companies have since then continued to grant licences and develop new oil and gas fields. The UK’s current government is even proposing to increase the frequency with which it issues new licenses!
This message was reinforce in 2023 when, having noted the strong growth in clean energy provision, the IEA reported that whilst there was no longer a need to maintain current investment levels in fossil fuels, investment in oil and gas was in fact twice what would be necessary to achieve net zero emissions targets. (https://origin.iea.org/reports/world-energy-outlook-2023)
On the plus side, the IEA’s report of March this year on clean energy, notes: “The deployment of solar PV, wind power, nuclear power, electric cars, and heat pumps from 2019 to 2023 avoids around 2.2 billion tonnes (Gt) of emissions annually. Without them, the increase in CO2 emissions globally over the same period would have been more than three times larger.” (https://www.iea.org/reports/clean-energy-market-monitor-march-2024
The Green Tau 