Coal dominance 'overshadowing' renewables growth
Almost half of new electricity demand in the past ten years was met through coal overshadowing huge strides in the renewables sector, according to a new report.
The report, released last night (April 6), by the International Energy Agency (IEA) was presented in Abu Dhabi at the second Clean Energy ministerial meeting.
Dependence on fossil fuels is, according to the report, posing short-term risks to political stability and economic activity as well as threatening environmental sustainability.
And, if investment is not shifted away from coal to renewables the world government's face the prospect of missing COP16 agreements and limiting global warming to two degrees celsius.
It was the first Clean Energy Progress Report assessing global deployment of clean energy technologies and recommendations to countries on future action and spending.
According to the report coal has met 47% of the global new electricity demand over the past decade, which has cast a shadow over the 'rapid growth' in the use of renewable energy sources.
IEA deputy executive director, ambassador Richard Jones, said: "Despite countries' best efforts, the world is coming ever closer to missing targets that we believe are essential for meeting the goal agreed in Cancun to limit the growth in global average temperatures to less than two degrees celsius.
"A number of countries have shown that achieving rapid transition to cleaner technologies is possible, and can be done from the bottom up. We must see more ambitious, effective policies that respond to market signals while providing long-term, predictable support."