Energy sector faces increasing pressure from climate change

MANILA, Philippines - The energy sector faces increasing pressure from climate change, according to a joint publication of the World Energy Council, the University of Cambridge Institute for Sustainable Leadership, the Cambridge Judge Business School and the European Climate Foundation. 

“Climate change is certain to impact the energy sector. We need robust and transparent policy frameworks to unlock the required long-term investments that are urgently needed to deliver the future we want. Leadership will be required at all levels. As well look to create resilient energy systems that meet the triple challenge of the energy dilemma, the time has come to get real about the challenges facing the energy sector. There is no climate framework with national energy policy,” Cristoph Fiel, secretary general of the World Energy Council, said in a briefing in Manila.  

In their  joint publication, the three institutions said energy demand is increasing globally, causing an increase in greenhouse gas emissions from the energy sector, and that the trend is set to continue due to economic growth and rising population.  

“Climate change presents increasing challenges for energy production and transmission as a result of temperature increase, extreme weather events and a changing precipitation pattern,” the joint publication said.  

For his part, Philippe Joubert, advisory board member for the Cambridge Institute for Leadership and former president of Alstom Power, urged businesses to cut down of their carbon emissions.  

“Leading businesses in this sector increasingly realize that business as usual is no longer possible or acceptable,” he said.  

He said companies must incorporate climate change mitigation and adaptation measures into their investment decisions.  

Rajendra Pachauri, chairman of the Intergovernmental Panel on Climate Change, said the energy sector has a critical role in the mitigation of greenhouse gases and in helping the world to adapt to the impact brought about by climate change, some of which would directly affect energy-related activities.