Helen Robertson, LONDON
A LOOMING energy investment shortfall risks derailing
carbon-reduction targets the International Energy Agency
(IEA) has warned.
In a new report,
World Energy Investment Outlook
, the IEA said
that to meet global energy demand, around $40 trillion will
need to be invested by 2035, while a further $8 trillion will
need to be spent on energy efficiency.
"The reliability and sustainability of our future energy
system depends on investment," IEA executive director Maria
van der Hoeven said. "There is a real risk of shortfalls,
with knock-on effects on regional or global energy security,
as well as the risk that investments are misdirected because
environmental impacts are not properly reflected in prices."
More than half of the $40 trillion needed to meet global
energy demand by 2035 would have to be spent on maintaining
current production levels rather than on developing new
sources of supply, the IEA...