On the 2nd anniversary of the Paris Agreement, Chief Executive of the World Coal Association, Benjamin Sporton reiterates calls for greater investment to accelerate the deployment of carbon capture and storage (CCS) technologies which are now globally accepted to be critical to achieving global climate objective.
The anniversary also comes as French President Emmanuel Macron hosts leaders and policy makers in Paris to look at public and private finance for climate action.
Mr Sporton says:
- Despite progress in renewables, about 75% of the world’s energy still comes from fossil fuels—the same as in the 1970s. And with the world’s energy demand set to rise, it is safe to say that fossil fuels including coal will continue to power up many economies.
- In the last two decades, nearly all of those who gained access to electricity worldwide did so through new grid connections, mostly from fossil fuels – 45% of which came from coal.
- So rather than wishing away fossil fuels, world leaders should be committing to investment in all low emissions technologies including 21st century coal technology – high efficiency low emissions (HELE) power generation and carbon capture, use and storage.
- Low emissions technologies are not just for the energy sector. They also apply to most industries.
- If we are really interested in climate solutions, then there should be policy parity for all low emissions technologies- providing the same incentives and investment for any technology that can cut emissions. This must include HELE and CCS.
- The International Energy Agency and the Intergovernmental Panel on Climate Change are both clear that we cannot achieve global climate objectives without CCS.
- Countries should not be forced to choose between economic development or climate priorities. Thanks to technology, both can be achieved. And so global efforts should be driven towards cutting emissions rather than being religious about one fuel or another.