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Energy Week 2006 Clean Energy & Climate Change Plenary 7 March 2006

Energy Week 2006 Clean Energy & Climate Change Plenary 7 March 2006. Corrado Clini Director General Ministry for the Environment and Territory ITALY. The European gap towards Kyoto. Investment timeframe.

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Energy Week 2006 Clean Energy & Climate Change Plenary 7 March 2006

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  1. Energy Week 2006Clean Energy & Climate Change Plenary7 March 2006 Corrado Clini Director General Ministry for the Environment and Territory ITALY

  2. The European gap towards Kyoto

  3. Investment timeframe • The overall goal of stabilising CO2 concentration in atmosphere requires an extraordinary and global effort in terms of research and innovation in order to change the energy system and lower the “carbon intensity” of the global economy; • Investments in energy-related technologies between 2006 and 2012 are crucial to supply the growing energy demand: gap analysis between the goal of stabilising CO2 concentration and the different emission scenarios highlights that, between 2006 and 2015, the choice among different energy technologies will determine the future of global emissions; • It is clear that short-term investments to reach Kyoto target in 2012 could differ from the ones oriented to the technology transformation in the energy system, which will produce results in the medium term; • Industrialised countries should decide whether the technology options to be used for compliance with the Kyoto Protocol also imply “decarbonisation” objectives beyond 2012. They should decide whether to finance measures and technologies which could be obsolete after 2012. This apply both to domestic measures as well as to the flexible mechanisms of the Kyoto Protocol.

  4. Stabilizing CO2Base Case and “Gap” Technologies • Assumed Advances In • Fossil Fuels • Energy intensity • Nuclear • Renewables • Gap technologies • E.g. CCS The “Gap” Source: Jae Edmonds, PNNL/Univ MD

  5. The key role of carbon finance in the long-term investments • Long-term investments to change the global energy system will be feasible with a clear long-term carbon price, in order to have the forward carbon value economically accounted today. • The task of newly-created “carbon finance” is to design the long-term perspective, beyond Kyoto. • The WB should work in order to develop the carbon finance not only as a tool for CERs aquisition in the “Kyoto system” but also as a permanent “infrastructure” for stabilising the carbon price in the global energy market beyond 2012.

  6. The G8 commitment in the Gleneagles Plan of Action: “We (the G8) will promote the continued development and commercialisation of renewable energy by: […] d) launching a Global Bioenergy Partnership to support wider, cost effective, biomass and biofuels deployment, particularly in developing countries where biomass use is prevalent, following the Rome International Workshop on Bioenergy”. The GBEP will be officially launched during the Ministerial Segment of CSD14.

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