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The
right investments, especially in renewable energy and nuclear
power, mean the world need not choose between energy shortages
and accelerated climate change due to fossil fuel emissions,
Birol said at the World Economic Forum (WEF).
"We need fossil fuels in the short term, but let's not lock in
our future by using the current situation as an excuse to
justify some of the investments being done, time-wise it doesn't
work and morally in my view it doesn't work as well," Birol told
delegates in Davos, Switzerland.
The Paris-based IEA, a top energy watchdog, warned investors
last year not to fund new oil, gas and coal supply projects if
the world wants to reach net zero emissions by mid-century.
Short-term demand meant the world could not immediately wean
itself off traditional energy supplies, Birol said, adding that
he hoped producer countries with capacity to export more energy
would make a "positive contribution".
The OPEC+ alliance of oil exporters has been incrementally
releasing oil into markets, with top producers Saudi Arabia and
the United Arab Emirates holding off on tapping full capacity.
(Reporting by Noah Browning; Editing by Philippa Fletcher and
Alexander Smith)
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