IICEC Energy Market Newsletter Issue 25

IEA Ministerial

Accelerating Global Action on Clean Energy and Energy Security:
IEA 2022 Ministerial Meeting

Energy and Climate Ministers from IEA Member, Association, and Accession countries, as well as other key partners, gathered in Paris on March 23 and 24 for the 2022 IEA Ministerial Meeting, which came at a critical time for the global economy and energy markets in the aftermath of the Russia-Ukraine conflict. The two-day meeting, chaired by U.S. Secretary of Energy Jennifer M. Granholm, hosted more than 40 Energy and Climate Ministers from across the world. The IEA Ministerial Meeting addressed today's growing energy-security problems, particularly the imperative of speeding up the clean-energy transition as a crucial component of the solution. Another important aspect of the meeting was the promise of governments in their attempts to maintain secure and affordable energy supplies for residents while carrying out the pledges made during the COP26 Climate Change Conference in Glasgow to reduce global emissions.1 U.S. Secretary of Energy Jennifer Granholm, who chaired the Ministerial Meeting said: “Today, IEA Member Countries and the European Commission banded together on actions to stabilize the global energy market. The urgent need to accelerate the equitable transition to clean energy remains a top priority and must be accelerated. I am honored to work alongside this collection of the world’s incredibly talented energy leaders. We are committed to a clean energy future that will create millions of good paying jobs, mitigate the destructive impacts climate change, and ensure a peaceful energy future.”

IEA Ministerial 2

Twin Goals:
Energy Security and Clean Energy

IEA Executive Director Dr. Fatih Birol said: “The energy world is changing fast and needs to change faster still. The IEA is ready to support the twin goals of energy security and the clean energy transition, and I am delighted that our Member Countries, under the leadership of Secretary Granholm, are giving us the responsibilities and the resources to tackle the major challenges of our time. The IEA was founded nearly 50 years ago during the oil crisis of the 1970s, and this ministerial meeting is setting us up to help lead the response to the energy and climate crises that we face today.