Bloomberg discusses why the world’s most influential energy model needs a climate update. Open letter accuses the International Energy Agency of marginalizing key climate goals.
The International Energy Agency marginalizes key climate goals in its research, according to an open letter from dozens of investors, business leaders, researchers and climate policy advocates.
The Paris-based organization is largely funded by rich countries and advises nations on energy policy. It publishes an annual report called the World Energy Outlook, which projects how the global energy system is likely to look in years to come. The scenarios it uses have become the bedrock of energy policy for governments around the world and provide key insights for global investors to check whether they are putting money in the right places.
“In light of the IEA’s considerable impact on global energy decision-making,” the signatories said in the letter to Executive Director Fatih Birol, “the tools you provide will shape countless investments and decisions that may either lock in a high carbon future to devastating effect or, conversely, accelerate the transition to a resilient clean energy economy.”