"A two-year-old number is changing the way governments, companies and investors approach the fight against climate change: $1 trillion," Inside Climate News reports. "The Paris-based organization of 29 developed countries calculated the cost in 2012 and raised its estimates this year." This "clean trillion" in annual additional spending has become a rallying cry since it was featured this year in a campaign for sustainable investment. Summarising the IEA investment pathway to limit global warming, the Inside Climate News report noted that investment last year was less than one-third of the target.
The Financial Times industry and energy editor Ed Crooks opens his review of the latest book by the scientist and essayist Vaclev Smil by citing how an IEA warning on OPEC spare capacity made 11 August 2004 an "under-recognised landmark date". "It had been clear for a while that China’s oil demand was booming, but the IEA’s announcement threw a spotlight on the scale of its growth." IEA recognition of China's thirst for energy for its surging economy marked that the days of cheap oil prices "were probably gone forever", the review notes.
The Guardian, writing of the new IEA Medium-Term Renewable Energy Market Report, quoted Justin Wilkes, the deputy chief executive of the European Wind Energy Association, as saying, "The IEA report hits the nail on the head when it comes to ambitious national targets for 2030." The article noted that renewable capacity grew at its strongest pace last year and that renewables produce almost 22% of the world's electricity. But it quoted IEA Executive Director Maria van der Hoeven's warning that "just when they are becoming a cost-competitive option in an increasing number of cases, policy and regulatory uncertainty is rising in some key markets."
Europe countries must work together if they want to reduce their reliance on Russian gas imports, IEA Executive Director Maria van der Hoeven told Reuters in an interview in Norway. "It's important that Europe enforces its internal energy strategy," she said during the ONS Stavanger conference on the future of energy. "Countries in Europe are not independent when it comes to energy because there's huge interdependence and decisions made in one country have an influence on other countries."
Despite geopolitical turmoil in some producing regions, burgeoning US unconventional production has helped keep oil and gas markets stable, Executive Director Maria van der Hoeven explains in a video interview at the ONS-2014 conference in Norway.
European countries are working to fill gas storage and already have reverse flows in place in parts of the continent to counter the effects of any supply disruption resulting from the conflict in Ukraine, IEA Executive Director Maria van der Hoeven told Argus in an interview during the ONS Stavanger conference in Norway. There have been no disruptions in supply so far and European gas prices have not risen, Ms. Van der Hoeven told the energy-focused news service, but the IEA is closely monitoring the situation.