IEA Clean Energy Report Says Progress Too Slow To Limit Climate Change

"LONDON -- The development of low-carbon energy is progressing too slowly to limit global warming, the International Energy Agency (IEA) said on Wednesday."

"With power generation still dominated by coal and governments failing to increase investment in clean energy, top climate scientists have said that the target of keeping the global temperature rise to less than 2 degrees Celsius this century is slipping out of reach.

"The drive to clean up the world's energy system has stalled," said Maria van der Hoeven, the IEA's executive director, at the launch of the agency's report on clean energy progress.

"Despite much talk by world leaders, and a boom in renewable energy over the past decade, the average unit of energy produced today is basically as dirty as it was 20 years ago."

Global clean energy investment in the first quarter fell to its lowest level in four years, driven by cuts in tax incentives at a time of austerity, according to a separate report by Bloomberg New Energy Finance this week."

Nina Chestney reports for Reuters April 17, 2013.

Source: Reuters, 04/18/2013