Global energy emissions could peak as soon as 2020 if the world bans the construction of new coal-fired power stations, phases out subsidies for fossil fuels, and increases the use of power fueled by nuclear, natural gas and renewable resources, according to a report by the International Energy Agency (IEA).
IEA said in the report, “World Energy Outlook Special Report on Energy and Climate Change,” that there are four key “pillars” that are needed to successfully implement the United Nation’s Conference of the Parties (COP21) in Paris in December, a crucial climate change meeting. The pillars are: peak in emissions, five-year revision, lock in the vision, and track the transition.
Governments need to implement five policy measures to reach peak emissions levels by 2020, including increasing energy efficiency in buildings and the industry, reducing the number of least-efficient coal-fired power plants, increasing investment in renewable energy technologies, phasing out fossil-fuel subsidies and reducing methane emissions in oil and gas production.
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