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Communication [...] Mobilising public and private finance towards global access to climate-friendly, affordable and secure energy services: The Global Energy Efficiency and [...] COM(2006) 583 final

Funded under: FP6-SUSTDEV

Abstract

Communication from the Commission to the Council and the European Parliament, Mobilising public and private finance towards global access to climate-friendly, affordable and secure energy services: The Global Energy Efficiency and Renewable Energy Fund, COM(2006) 583 final
Since the early 1990's, most parts of the world are enjoying an unprecedented phase of economic growth. Since 1994, global oil consumption has increased by 20%, and is projected by the International Energy Agency (IEA) to grow by 1.6% per year. According to the IEA, world energy demand is set to increase by more than 60% by 2030. Meeting this demand requires an estimated investment in the energy sector of USD 16 trillion over the next 25 years. The business-as-usual investment scenario would not only create a significant financing challenge, it would not lead to a sustainable future, in particular in terms of:
- Greenhouse gas emissions
- Air quality
- Poverty and sustainable management of natural resources
- Energy security
Clearly, the need to ensure sustainable development, i.e. simultaneously win the battle against climate change, eradicate energy poverty, and secure global energy supplies, calls for profound changes in the way energy services are delivered and energy sources are used.
Heads of States agreed at the 2002 World Summit for Sustainable Development (WSSD) to urgently and significantly increase the share of renewable energy in the global energy mix. At the WSSD, the EU established the Johannesburg Renewable Energy Coalition (JREC) and the EU Energy Initiative (EUEI) to ensure that the commitments contained in the Johannesburg Plan of Implementation would not remain hollow words.

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Record Number: 8421 / Last updated on: 2007-02-20
Category: COM DOCUMENT