In an in-depth review of Australia’s energy policies released today, the International Energy Agency (IEA) lauds the country’s ambitious goals for developing a low-carbon economy but warns that they will require significant investment.

“Australia has taken many positive steps since the last in-depth review in 2006,” IEA Executive Director Maria van der Hoeven said at the launch of the report, Energy Policy of IEA Countries: Australia 2012. “The IEA strongly supports Australia’s continuing efforts to increase and improve low-carbon energy in the country.”

Best known as a producer of coal and natural gas, Australia is the world’s ninth‐largest energy producer and, with Canada and Norway, one of only three net energy exporters in the OECD. Notably, Australia is a significant investor in low-carbon technologies and, with its extensive wind, solar and geothermal resources as well as large biomass and ocean energy potential, has begun transitioning to a clean-energy economy.

Tags: International Energy Agency (IEA)