Energy Industry Leaders Push for New Global Guidelines to Deal with Carbon Emissions
Published By : 27 May 2015 | Published By : QYRESEARCH
World dignitaries in the energy industry have pushed for signing of a patent agreement by world governments on greenhouse gas emissions, at a crucial Paris conference in December. They have stated that lack of clear directions or long term goals has hampered the industry’s progress.
The World Energy Council (WEC) represents important organizations across the world, stated that about $48tn to $53tn is required as investment for avoiding and combating hazardous climatic change. WEC said that well-defined goals for toxic emissions should be set in the agreement. The secretary general of WEC stated that the traditional approach, methods, and technology is not feasible for global climate targets and to tackle the dangers of energy security. New ways of thinking with steady economic investment and clear goals to develop modern energy infrastructure would be required to deal with carbon emissions.
The earlier world agreements for greenhouse gas emissions had been initiated in 2009 and have not been annulled. These were to continue to 2020 but now governments are supposed to sign a new agreement in Paris which applies till 2025 or beyond. So far about 30 countries including U.S., China, and EU have submitted commitment targets. Some companies dealing in fossil fuels have lobbied against the agreement.
WEC is accredited to the United Nations Organization and consists of members from state backed industries, private companies, and governments. The organization wants trade barriers to be removed, carbon price to be set, and collaboration for using newer technology and other policies. There is more focus on action and stress on government’s active participation to deal with climatic changes and make energy affordable and available to all.