Accroding to IEA (International Energy Agency), glogal temperatures are projected rise 3.5 degrees C. over the next 25 years. This shows rise in temperature prediction which was supposed to be 2-degree increase meaning meaning that governments worldwide will have failed in their pledge to hold global temperature at a 2-degree increase.
However, there is still a little hope if governments remove subsidies for fossil fuels and increase investments in renewable energy to make them cost competitive, then the Copenhagen Accord can still be upheld, says, Fatih Birol, the chief economist for the Paris-based International Energy Agency (IEA).
This information came just ahead of a summit starting Nov. 29 in Cancún, Mexico, for another round of climate talks.
Now it is utmost for the governments to support renewable energy to maintain 2 degree C rise. According to IEA, to keep temperatures from rising more than 2 degrees C., the share of renewables among total energy use must reach to 38 percent by 2035, governments must end their subsidies on fossil fuels, and global demand for coal, oil, and gas must plateau before 2020. The longer the world waits to tackle the issue the more expensive it will become. The IEA estimates the price tag of meeting the Copenhagen Accord pledges at $11.6 trillion through 2030, which is a $1 trillion increase from the IEA's projection once year ago.
But the world has never been quick to adopt new energy policies, as Monitor correspondent Douglas Fox pointed out in his cover story on the future of energy.
"Energy revolutions have usually been slow, starchy, conservative affairs, not overnight explosions; and the next one promises to be, too -- never before has humanity replaced 15 trillion watts of worldwide energy production," writes Mr. Fox. "Our success in making it happen quickly enough to stave off climate change will depend every bit as much on strategic use of fossil fuels now as it does on flashy new technologies in the future.
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