Development of a clear climate framework and a global emissions target is essential if £28-34tn for a new sustainable energy infrastructure is to be delivered, according to a report from the World Energy Council.
The findings were uncovered today in the World Energy Trilemma Report, Priority actions on climate change and how to balance the energy trilemma.
The report was released by the World Energy Council and project partner Oliver Wyman to government representatives as they met for the sixth Clean Energy Ministerial (CEM6) in Merida, Mexico.
Drawing upon the insights of more than 2,500 industry leaders and policymakers from across the globe, the report reveals the urgency with which energy sector leaders view the need for negotiators to agree on a climate framework and a global target for greenhouse gas emissions.
World Energy Trilemma executive chair Joan MacNaughton commented: “The energy industry believes the time is ripe for stronger action on climate change, and it is more than ready to play its full part, building on the examples of leadership which some businesses are already showing.
“Our findings show that there is a real thirst for vigorous implementation of strong commitments - the focus now needs to move from negotiation to action. Unless this happens, it will become increasingly difficult to deliver across the three trilemma goals of energy security, energy equity and environmental sustainability.
“As the energy industry is telling us, it is now time to get something done.”