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International Energy Agency (IEA)
Who is the IEA? According to the IEA website, “the International Energy Agency (IEA) is an intergovernmental organisation which acts as energy policy advisor to 28 member countries in their effort to ensure reliable, affordable and clean energy for their citizens. Founded during the oil crisis of 1973-74, the IEA’s initial role was to co-ordinate measures in times of oil supply emergencies. As energy markets have changed, so has the IEA. Its mandate has broadened to incorporate the “Three E’s” of balanced energy policy making: energy security, economic development and environmental protection. Current work focuses on climate change policies, market reform, energy technology collaboration and outreach to the rest of the world, especially major consumers and producers of energy like China, India, Russia and the OPEC countries.”
The IEA focus to provide input to legislative bodies regarding the Three E’s is a valuable resource because it would not seem common to have legislative bodies that contain sufficient experts on energy security, economic development and environmental protection. Through this one agency, legislative bodies can be better informed about the impact of potential energy policies on these three areas. If the goal of legislative bodies is to provide sound energy security, strong economic development and clean environmental protection, the advice of such an agency as the IEA would be valuable indeed. Businesses too may benefit from preemptively adhering to the advice of the IEA, as they may then be seen as placing the three E’s first, even before governments. For a world filled with citizens concerned about these three areas, the advice of the IEA may provide tangible competitive advantages to businesses linked to the IEA.
References
Tune in tomorrow for Part 7 of SEatWtC!
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