Green policies can halve CO2 emissions from energy sector, says OECD and IEA
Rising global energy demand and the need to drastically cut carbon dioxide (CO2) emissions require a transformation in the way nations produce, deliver and consume energy, according to a new joint report from the OECD (Organization for Economic and Cooperation Development) and IEA (International Energy Agency). The Green Growth Studies: Energy report says governments need to increase energy efficiency and lower the carbon-intensity of the sector. As developed countries renew their energy infrastructure and developing countries build new power plants to meet growing energy demand, the time is right to make crucial choices for the future of the energy sector, the report says. With the energy sector responsible for the majority of CO2 emissions, green growth policies could halve worldwide energy-related emissions of CO2 by 2050 using a combination of existing and new technologies.
The report also finds that the transition to a low-carbon energy system is likely to have a positive impact on employment in the energy sector because renewables tend to be more labor intensive at the manufacturing, installation and maintenance phases than fossil fuel-based energy where labor requirements are higher at the extraction phase.
Increased deployment of solar PV would likely yield the largest number of jobs with strong growth also expected in the energy efficiency, geothermal and solar thermal sectors.