The energy industry needs clear policies from government to invest in sustainable technologies, says a new report from the World Energy Council (WEC).
The group interviewed 40 executives from the energy industry for its annual World Energy Trilemma report, released this week at COP-18 in Doha, Qatar. The report calls for the establishment of clear emissions targets in in order to give companies the confidence they need to invest in green tech.
“We’re taking too long to create the environment needed to develop sustainable energy systems,” said Mark Robson, an author of the report. “Businesses must be assured that the economics of their investments won’t be destroyed by changes in energy policy. This policy risk is a key factor holding back energy investments.”
In the report, 90 countries were ranked based on their ability "to balance the three dimensions of energy sustainability extremely well." Sweden, Switzerland and Canada topped the list, but no country was deemed to have achieved sustainability.
Next year, the WEC plans to interview policy makers and write a report about what they would like from industry executives.
Photo: A hilltop wind farm in Scotland. (via The Sunday Times)