Carmen Bunzl - Universidad Pontificia Comillas

Chapter 5. Conclusions 248
as the subsequent cost reduction for the consumer would entail a much larger
deployment.
These low-carbon technologies may not suffice to achieve the demanding
targets of GHG emission reduction on their own; other major low-carbon
technologies will be needed. Coal will continue to be a major part of the energy
picture for a long time – its supply is more secure than gas and oil, it has
competitive costs and there is still a lot of coal. Carbon capture and
sequestration would therefore be necessary, at least as a bridging technology.
However, it is still too costly to compete with more traditional electricity
generation alternatives at current carbon prices and would therefore require
huge investments. It should especially be extended to developing countries
such as China and India and other large coal consuming countries.
Another major low-carbon technology would be nuclear energy; some
governments have already expressed their desire to promote nuclear plants as a
component of their climate change strategy – its lower carbon emissions,
security of supply and competitive cost are some of its arguments in favor –.
However, some disadvantages such as political risk and public acceptance
problems, and other regulatory and economic risks, should be reduced to
reasonable levels. Another relevant question is whether to transfer nuclear
power technology indiscriminately, global security risks and political issues
cannot be ignored.
Carbon markets will introduce carbon prices that should be increasingly higher;
national governments are to set mandatory targets such as efficiency improvements,
renewable targets or technical standards. The goal is to provide a stable and
attractive environment for the private investment to take place and foster
technological innovation in order to achieve a low carbon economy.
For an effective reduction of global GHG emissions it is indispensable that
this approach is extended to developing countries, who will be the main contributors
to future GHG emission growth; their mitigation actions being always
Escuela Técnica Superior de Ingeniería ICAI Carmen Bunzl Boulet Junio 2008