Climate change is often described as the defining challenge of our times and yet there are worrying signs that it has slipped down the policy agenda. World Energy Outlook 2012 concluded that emissions in its central scenario are consistent with a long-term average global temperature increase of 3.6° Celsius and that the climate goal of limiting warming to 2° Celsius is becoming more difficult and more costly with each year that passes. Despite this, there seems to be a stark disconnect between the increasing evidence of environmental damage and risk of catastrophic climate change, and the lack of urgency to move beyond an evidently inadequate pace of action, including in the energy sector - the largest source of global carbon-dioxide (CO2) emissions.
These findings all underscore the need for more rapid action. The aim of this IEA workshop is to seek insights and information from high-level representatives from governments, industry, finance, academia and other relevant stakeholders on:
- The current status and expectations in global climate policy: what is actually happening, what more is needed to achieve a 2° Celsius target and what more can be done to make it happen?
- Understanding and measuring the potential “carbon bubble”: what are the possible risks and costs associated with stranded energy resources and assets? Which sectors/countries are most at risk and what actions can be taken to mitigate them?
- What are the potential impacts of climate change on the energy sector: does climate change pose a significant threat to our energy systems and where are we most vulnerable?
The results of this workshop is to provide essential input to the key findings and messages of the World Energy Outlook special report, were released Monday 10 June 2013.
The meeting is informal in nature and held under the Chatham House Rule. Attendance was by invitation only.