BETHESDA, Md. (News release) -- Enviva Partners, LP welcomes a new report from the International Energy Agency (IEA) for a more rapid transition to net-zero carbon emissions, a tripling of public investments in clean energy technology, and a growing role for modern bioenergy. The IEA World Energy Outlook (WEO) report, released last week, is designed to provide independent, objective scientific assistance to global decision-makers gathering at next month's UN Climate Change Conference (COP26) in Glasgow.
The IEA warns that current progress on clean energy remains "far too slow to put global emissions into sustained decline towards net zero" and calls for urgent action from governments around the world. In laying out a more rapid energy transition plan, the report states: "Modern bioenergy plays a key role in meeting net zero pledges."
"While there is no silver bullet to achieve net zero, sustainable wood bioenergy is a proven technology that can be expanded at scale - today - to accelerate the energy transition," said John Keppler, Chairman and Chief Executive Officer at Enviva. "The IEA is a prominent member of the growing chorus of respected climate and energy authorities and policymakers that recognize the role modern bioenergy plays as a part of the global solution to climate change."
To achieve net-zero carbon emissions by 2050, the report calls for coal to be phased out of the global power sector at a more rapid pace and replaced with low emissions energy sources that complement each other, such as wind, solar, nuclear, hydropower, and bioenergy. Displacing coal is a core mission for Enviva as a company. The report further states: "There is a growing role for alternative, low emissions fuels such as modern bioenergy and hydrogen-based fuels in all scenarios ... These play a key role in the achievement of net zero targets ..."
The IEA report echoes the sentiment of a UN Intergovernmental Panel on Climate Change report issued just a few months ago that time is running out to put in place the measures needed to prevent further irreversible damage from climate change to our planet.
Enviva agrees with the IEA on the need to dramatically increase levels of investment in new clean energy projects and infrastructure. Additionally, we must re-engineer the way capital is deployed globally to identify and support promising low emissions energy technologies faster.
Enviva supports the push for governments to take an active role in reducing carbon emissions and achieving global climate targets - but it is also imperative for industrialists to join in, if not lead, the fight. The private sector must develop a strategic plan to become low-carbon and/or net zero, both in production processes and supply chains. As the world's largest producer of sustainable wood biomass, Enviva plays a critical role in the clean energy transition by providing a low-carbon alternative to fossil fuels that is reliable and dispatchable. Sustainable wood biomass from Enviva is currently being deployed to meet global demand for electricity and heat and can provide a low emission energy alternative for industrial applications such as the production of steel, cement, and lime.
To take a look at the IEA's World Energy Outlook 2021 Report click here. To learn more about Enviva and its 2030 net-zero commitment, click here.