Energy
The OECD Green Growth Strategy aims to provide concrete recommendations and measurement tools, including indicators, to support countries’ efforts to achieve economic growth and development, while ensuring that natural assets continue to provide the resources and environmental services on which well-being relies. The strategy proposes a flexible policy framework that can be tailored to different country circumstances and stages of development. This report was coordinated with the International Energy Agency (IEA).
This report looks at the role of the energy sector in moving towards a green growth model and the policies to facilitate the transition. Together with innovation, going green can be a long-term driver for economic growth, through, for example, investing in renewable energy and improved efficiency in the use of energy and materials.
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Promoting the transition to green growth
It is possible, using existing and emerging technologies, to halve global emissions by 2050, with an additional cumulative investment of USD 46 trillion. All technology options are needed, and fundamental changes are also required by key energy users: transportation, industry and buildings.
The energy revolution that is needed can be characterised by the following elements: improved energy efficiency, widespread introduction of carbon capture and storage, increased deployment of renewable energy, nuclear energy, continued fuel switching, and support for new and enabling technologies.
Broadly, the key policies that are required to set the framework for the transformation of the energy sector include (these will vary by energy sector):
• Provide price signals for externalities.
• Eliminate fossil fuel subsidies.
• Set frameworks to make markets work.
• Radically improve energy efficiency.
• Foster innovation and green technology policy.
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