The International Energy Agency has warned that the price of carbon credits will have to more than double from the levels they now trade at in Europe to make high-tech solutions to climate change economically attractive.
In its annual World Energy Outlook report released yesterday, the rich countries' watchdog also warns that the world's use of fossil fuels – coal, oil and natural gas – will have to peak by the early 2020s.
Fatih Birol, the IEA's chief economist, argues the world needs a “revolution” in the energy and vehicle industries.
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