Investors often use the WEO to assess energy investments. Contrary to the IEA’s claims, its ‘Sustainable Development Scenario’ (SDS) is not aligned with the Paris goals.
In response to the International Energy Agency’s (IEA) 2018 World Energy Outlook (WEO), Greg Muttitt, Research Director at Oil Change International, said: “We need the world’s foremost energy modellers to model global success in meeting our climate goals, yet this year’s WEO again emphasizes a business-as-usual pathway to climate failure.”
How the International Energy Agency’s Sustainable Development Scenario doesn’t match up to the Paris goals, and how the IEA can change it (2 years ago it nearly did!)
288 major investors worth more than $26 trillion USD in assets are warning that we aren’t on track to meet the goals of the Paris Agreement and lack the tools needed to get there. In a public statement and policy brief released yesterday, the group which includes major pension funds, banks, asset managers, churches, … Read More
How the IEA Guides Energy Decisions Towards Fossil Fuel Dependence and Climate Change
Through its energy forecasts, the International Energy Agency (IEA) has been guiding governments towards energy decisions that are inconsistent with the goals of the Paris Climate Agreement, new research has found.
“The IEA must help the world plan for success in reaching the Paris goals. That can’t happen until a real climate scenario forms the heart of World Energy Outlook.”
There’s a battle taking place over how we think our energy future will unfold. And tomorrow, the organization that arguably holds a near monopoly over how most decision-makers perceive this future – the International Energy Agency (IEA) – will release its latest volley.
Today the IEA finally released an energy forecast that aims for a greater chance of avoiding climate catastrophe. It is crucial that the IEA now retire its outdated 450 Scenario, and instead focus on how to keep warming well below 2ºC and aim for 1.5ºC.
The EIA’s Reference Case forecasts show us the energy future we need to avoid for a safe climate. Yet the Obama Administration uses these forecasts as the basis for drilling in the Arctic and elsewhere on Federal Lands and the Outer Continental Shelf.