The world needs energy—and it will need a lot more of it as we move forward. This presents us with a daunting challenge. Economic development over the coming decades will most likely hinge on the ways we source and consume energy. We need to balance the need for secure energy supplies with climate protection and affordability.
This “energy trilemma” calls on the global community to take action. In its latest edition of the World Energy Outlook (WEO), the International Energy Agency (IEA) anticipates that “Growth, prosperity, and rising population will inevitably push up energy needs over the coming decades.” The IEA forecasts that China will consolidate its position as the biggest energy consumer worldwide, requiring almost 70 percent more energy than the US by 2035. At the same time, we also have to consider the economic impact of climate change. The central (“New Policies”) scenario in the current WEO report assumes that the average global temperature will rise by 3.5 degrees Celsius: for every dollar not invested in clean energy before 2020, an additional 4.30 dollars will have to be invested after 2020 to counter the rise in emissions.
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