Fatih Birol, the head of the International Energy Agency (IEA), faced renewed pr...
LONDON - Fatih Birol, the head of the International Energy Agency , faced renewed pressure on Monday to overhaul the organization’s influential projections for fossil fuel demand from investors and scientists concerned about climate change.
“The year 2020 marks a turning point for the world — the year when we either grasp the challenges and opportunities before us, or continue delaying and obstructing the low-carbon transformation,” the letter said. Since the start of this year, various networks of institutional investors, asset owners, scientists and climate advocacy groups have been urging Birol to change the way the report is produced and presented.
In interviews with Reuters this month, Birol and other senior IEA officials argued that the criticism of the outlook was misplaced, saying it was based on misunderstandings of how its scenarios work and what they aim to demonstrate. The signatories said they wanted the IEA to produce what they would consider a “fully transparent” scenario showing how the world could meet the most ambitious Paris accord goals.
German insurer Allianz, Switzerland’s Zurich Insurance Group, and Danish fund PensionDanmark confirmed to Reuters they had signed the letter. Other signatories shown on a copy of the letter seen by Reuters included Unilever, IKEA, Nordea Life & Pension and Ørsted.
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