Irish energy policy Global energy context There is no overarching international energy authority although there are several major international energy organisations. One of them is the International Energy Agency (IEA). Established in 1974, the IEA is a sister organisation of the Organisation for Economic Development (OECD) and has a membership of 37 countries. It works with member countries and others (such as China and Russia) to ensure security of supply and to provide research and recommendations on energy policy.
Energy consumption China is the world’s largest energy consumer and the biggest emitter of greenhouse gas emissions. Since 2011, it has burnt more coal than all other countries combined. In September 2020, China pledged to become carbon neutral by 2060 and submitted an updated nationally determined contribution (NDC) to the United Nations Framework Convention on Climate Change (UNFCCC). China’s 14th five-year plan also put forward targets for the short-term, such as a 13.5% reduction in energy consumption per unit of GDP and an 18% reduction in carbon dioxide emissions per unit of GDP during the 2021-25 period. Simultaneously China has surpassed the United States on clean energy investment to become the most important player in the global market. China is currently the world’s largest producer, exporter and installer of solar panels, wind turbines, batteries, and electric vehicles. The US is the second largest consumer of energy and is also the second largest emitter of greenhouse gas emissions. In 2020, renewable energy sources accounted for about 12.6% of total US energy consumption and about 19.8% of electricity generation. President Joe Biden assumed office in January 2021 and pledged to move to 100% clean energy. He moved to reinstate the US to the 2015 Paris Agreement after his predecessor Donald Trump withdrew from the agreement. At the COP 26 climate summit in Glasgow in November 2021 China and the US agreed to boost climate cooperation over the next decade through a joint declaration, with both sides pledging to “recall their firm commitment to work together” to achieve the 1.5°C temperature goal set out in the 2015 Paris Agreement.
The Paris Agreement 2015 The 2015 United Nations Climate Change Conference (known as COP 21) took place in Paris in December 2015 and, to the surprise of many commentators, and conference participants, reached what was seen as an historic deal to limit the rise in global temperatures to less than 2°C above pre-industrial times. The agreement was regarded as being impressive in light of the fact 195 countries signed up to it. The key targets identified were: • to keep global temperature rise ‘well below’ 2°C and ‘endeavour to limit’ it even more, to 1.5°C;
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• to limit the amount of greenhouse gases emitted by human activity to the same levels that trees, soil and oceans can absorb naturally, beginning at some point between 2050 and 2100; • to peak greenhouse gas emissions as soon as possible and achieve a balance between sources and sinks of greenhouse gases in the second half of this century; • to review each country’s contribution to cutting emissions every five years so they scale up the challenge; and • for rich countries to help poorer nations by providing ‘climate finance’ ($100 billion a year by 2020) to adapt to climate change and switch to renewable energy. COP 25 took place in December 2019 and was seen as an opportunity to discuss, reach agreements and to advance climate action. Held in Madrid, it was an important opportunity to unlock the full potential of the Paris Agreement. The conference focused on building momentum for countries to increase their ambition to act on the climate crisis in 2020. It also aimed to completing technical details of the Paris Agreement, such as the workings of the global carbon markets, which determines how countries can trade carbon credits and therefore enhance the cost-effectiveness of climate action investments. However, while there was a recognition of the urgency of climate action, countries could not agree on some of the main areas.
COP 26 COP 26 was initially postponed due to the Covid-19 pandemic but took place in Glasgow in November 2021. The conference recognised that current national plans to cut emissions, even if fully implemented, fall short of ambitions to limit global warming to well below 2ºC, ideally 1.5ºC, since pre-industrial times. Estimations are that current NDCs will be inadequate to limit global warming to the required level, with a 2.4ºC rise predicted by 2030 on the current trajectory. Some nations had argued that an aim of 1.5ºC would be a rewrite of the Paris Agreement’s actual commitment. At COP 26, however, nations such as the US and the UK emphasised that the “well below 2ºC” target must be sought, an ambition largely agreed by participating nations. Coal took centre stage as both the biggest achievement and potentially biggest disappointment of COP 26. The Glasgow Climate Pact looked set to include a historic pledge by all nations to phase out coal-fired generation but opposition from some of the world’s largest users forced a retreat in ambition, with the final text including a pledge to ‘phase down’ use. The International Energy Agency estimates that some 40% of the world’s existing coal-fired power plants will need to be closed by 2030 if global warming is to be limited to 1.5ºC but to date, fossil fuel-producing companies and heavy consumers of oil and coal have been successful in keeping the phasing out of fossil fuels off the COP agenda. While not as ambitious as most would have hoped, the inclusion of a phase down