World not doing enough on climate change: IEA

The world has tools to cut emissions massively but is not using them or investing enough in technology needed to avert dangerous climate change, the head of the International Energy Agency said on Tuesday.
Nobuo Tanaka said little time should be spent on celebrating the tenth anniversary of the Kyoto Protocol to tackle global warming, because rapid emissions growth was making its targets less relevant and governments were moving too slowly. "The most scarce resource on earth is not natural resources, nor the capital investment or money, but time.
And now is the time for action," he told a news conference on the sidelines of UN climate talks in the Indonesian island of Bali. "The new technologies need reasearch and development, but...our efforts are not so promising," he said. The IEA is the energy policy advisor to 26 industrialised countries.