Energy initiative at Climate Change Conference in Poznan

09.12.2008 08:00 | pressrelease

We have the low-carbon technologies we need to avert damaging climate change. However, a strong policy and public/private cooperation is needed to support their rapid deployment, conclude the business leaders of nine major energy companies, including Statkraft, in a report presented at the at the UN Climate Change Conference in Poznań, Poland 8 December.

The report has been prepared by nine energy companies and the World Business Council for Sustainable Development (WBCSD).

It analyses what policies will be needed at national and international levels to deploy the technologies on the required scale.

Cooperation required

Balancing energy security, providing affordable electricity and mitigating climate change will require global cooperation. In the coming decades, the world will need double today’s power generation. We in the power sector have a strong opportunity to take a lead in combating climate change. But we cannot do this alone. We need to work with governments and other stakeholders to find solutions, conclude the CEOs of the nine companies in their report.

In addition to Statkraft, the following major international WBCSD companies from the energy sector participated: ABB, American Electric Power, CLP, EdF, Eskom, GdF Suez, Kansai Electric Power Company and Tokyo Electric Power Company. Together, this group represents approximately ten per cent of all the installed production capacity in the world today, with more than 300 million customers.

Global initiatives

The nine companies are scattered throughout the world, and it is this composition that has made it possible to perform an international analysis based on what the major players in the energy sector consider to be realistic. The report comprises a comprehensive comparison of existing and potential technologies with a very specific outline of policies and measures to drive large-scale technological development and deployment worldwide. About 41 per cent of global energy-related carbon dioxide emissions come from the electricity sector. The reinvestment needed in this sector by 2030 has been estimated at $US 11, 600 billion. This presents a significant opportunity to direct investments towards low-carbon technologies, the analysis states.

Making decisions for 40 years ahead

Some of the changes will take many years, but we have no time to lose, and we can only succeed through cooperation. The sector operates on long-term investments. Decisions made today will persist for the next 40 years or so, if not longer. So it is essential that the right decisions are made today. The current crisis in the global financial markets must not be allowed to stifle or delay critical infrastructure investments at a time when these are so badly needed, the representatives from the nine companies emphasised. During the launch of the report in Poznan, Statkraft was represented by the Senior Vice President European Affairs, Oluf Ulseth .

“Statkraft has been working on this report for almost two years, and it is a valid contribution in the debate on what each sector can do to help. It emphasises the role played by the energy sector in reducing environmental emissions. By launching the report during the Climate Conference in Poznan, we hope to draw attention to the results in many sectors, he says.

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Power to change summary 0.7MB .PDF