Global energy transition is underway – IEA, Tuesday, 10 November, 2015

The International Energy Agency (IEA) has launched its 2015 World Energy
Outlook. Covering major issues including the drop in world oil prices, the end
of the rise in China’s coal consumption and the ‘critical’ global climate summit
in Paris this December, the Outlook makes for judicious reading for all in the
energy sector.

The report says that there are “clear signs” an energy transition is
underway, in particular since renewables powered almost half of the world’s new
power generation capacity in 2014. Moreover, pledges that have already been
submitted in advance of the climate summit are “rich in commitments on
renewables and energy efficiency.”

Reacting to the report, Miguel Arias CaƱete, European Commissioner for
climate action and energy, said: “The good news is that the report shows the
world is shifting towards clean energy. But while the direction of travel is
changing, the destination is still not the 2 degrees. I am convinced that an
ambitious global climate agreement in Paris will help accelerate the necessary
global energy transition. The EU is ready to continue to do its part.”

The WEO 2015 also includes energy projections up to 2040 and examines
renewables, fossil fuels, energy efficiency and CO2 emissions. It
finds that world energy demand is likely to rise by nearly one-third between
2013 and 2040 due to increases in energy consumption in developing

press release: Low prices should give no cause for complacency on energy
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IEA world energy