Environmental Markets
Policy Framework “It is clear that the electricity industry, worldwide, has
a common goal of creating a low-carbon future,” says EURELECTRIC President Lars Josefsson. In a joint statement, electricity industry leaders from the world’s largest economies recently confirmed this shared vision and underlined the crucial role of electricity for the three areas of sustainability – economic, social and environmental. In that respect, they believe that with a clear public policy framework and massive deployment of advanced technologies, carbon emissions reduction goals of 60% to 80% by 2050 are achievable. Based on the joint Roadmap for a Low-
Carbon Power Sector by 2050, an industry goal of developing national or regional emission reduction trajectories towards a low-carbon future has been set. These trajectories will rely on a common measure of carbon emission intensity. In that respect, supportive, transparent and stable governmental policies are necessary for long-term planning by the industry and to encourage the significant investments needed. Five chapters have been identified for the
Industry to work together with governments: – Role of electricity in encouraging a shift to
a low-carbon society: To simultaneously achieve energy security, economy and environment goals, continuous efforts to facilitate a shift to a low-carbon society through advanced power technologies are needed. – Supply-side initiatives for reducing
CO2 emissions: To ensure that the growing demand for electricity is met in a secure
manner, all energy supply options should be available and the electric power industry will need to make major investments in generation, transmission and distribution over the next decades. A stable long-term investment climate is crucial for the electric power industry to deliver this future low-carbon energy system. Regarding renewable energies, governments should
work to streamline processes and support for the siting and construction of needed transmission facilities to use these resources, as well as establishing the recovery of additional
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investments and costs from all stakeholders. – Demand-side initiatives for higher energy efficiency:
... with a clear public policy framework and massive deployment of advanced
technologies, carbon emissions reduction goals of 60% to 80% by 2050 are achievable
Improving energy efficiency is an important strategy for mitigating climate change. Consumer education, improved building standards and supportive regulations are required to unlock the potential benefits available. Greater electrification using highly efficient appliances and systems in the residential, commercial and industrial sectors, and innovative plug-
in electric hybrid vehicles and electric vehicles in the transportation sector will greatly reduce
CO2 emissions from society as a whole while improving standards of living and reducing dependence on insecure supplies of oil. – Solving Climate Change: Climate
strategies must be compatible with the market economy, deliver timely and economically efficient greenhouse gas reductions and establish an adequate long-term carbon reduction value
that is moderate, does not harm local economies, provides a smooth transition for existing infrastructure and stimulates future investments in zero-emission and low-carbon
technologies. In addition, the development of advanced and innovative technologies, such as Carbon Capture and Storage, is crucial for
achieving significant CO2 emission reductions in
the long term. – Global efforts of the electric power industry:
The global climate change challenge means that developing countries also need to adopt advanced generation technologies at the earliest practical stage. In concert with governmental initiatives, electric power industries in advanced countries can help
developing countries reduce CO2 emissions by sharing experiences and expertise with operating
advanced technologies. ■ Footnotes
1. World Energy Outlook, 2009 International Energy Agency. 2. Bjorn Lomborg is Director of the Copenhagen Consensus Centre and author of Cool It and The Skeptical Environmentalist. 3. Philip Stott is professor emeritus of biogeography at the School of Oriental and African Studies (SOAS), University of London.
worldPower 2010
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