Enviva has welcomed a new report from the International Energy Agency (IEA) for a more rapid transition to net-zero carbon emissions, a tripling of public investments in clean energy technology, and a growing role for ‘modern bioenergy’.
The IEA World Energy Outlook report, released last week, is designed to provide independent, objective, scientific assistance to decision-makers gathering at next month’s COP26 summit in Glasgow, UK.
In the report, the IEA warned that current progress on clean energy remains “far too slow to put global emissions into sustained decline towards net zero” and calls for urgent action from governments globally. The report also states that “modern bioenergy plays a key role in meeting net-zero pledges”.
“While there is no silver bullet to achieve net zero, sustainable wood bioenergy is a proven technology that can be expanded at scale – today – to accelerate the energy transition,” said John Keppler, chairman and CEO at Enviva.
“The IEA is a prominent member of the growing chorus of respected climate and energy authorities and policymakers that recognise the role modern bioenergy plays as a part of the global solution to climate change.”
To achieve net-zero carbon emissions by 2050, the report calls for coal to be phased out at a more rapid pace and replaced with low emissions energy sources that complement one another, such as wind, solar, nuclear, hydropower and bioenergy.
The report further states: “There is a growing role for alternative, low emissions fuel such as modern bioenergy and hydrogen-based fuels in all scenarios…These play a key role in the achievement of net-zero targets.”
The IEA report echoes the sentiment of a UN Intergovernmental Panel on Climate Change report issued a few months ago that time is running out to put in place the measures needed to further prevent ‘irreversible damage’ from climate change, said Enviva.
The company agrees with the IEA on the need to dramatically increase levels of investment in new clean energy projects and infrastructure. Additionally, Enviva said the way capital is deployed globally must be re-engineered to identify and support promising low emissions energy technologies faster.