IEA Hosts G20 Ministers, Influential Personalities to Discuss Clean and Affordable Energy Transition

The International Energy Agency (IEA) recently hosted G20 energy ministers, other ministers and various influential personalities to discuss green energy and an affordable transition to renewables. This was the first time members of the new IEA Global Commission on People-Centered Clean Energy Transitions: Designing for Fairness met in person.

The participants discussed various practical strategies to facilitate fair and equitable green-energy transitions that provide equitable benefits on a social and economic scale. With several studies revealing a significant imbalance in green-energy investments, the participants talked about critical considerations for ensuring that clean-energy policies prioritize affordability and fairness.

Brazil minister of Mines and Energy, Alexandre Silveira de Oliveira, cochaired the commission alongside Spanish deputy prime minister for the Ecological Transition and Demographic Challenge Teresa Ribera. The commission is comprised of climate, labor and energy ministers from across the world along with high-level international organization representatives and Indigenous, civil society, labor and youth groups.

The commission is tasked with providing actionable recommendations to help international decision-makers make effective renewable-energy decisions that provide widespread economic and social benefits while remaining inclusive and equitable. The Friday meeting saw members of the commission discuss the findings of a recently published Commission report that outlined seven questions about fairness and affordability in the green-energy transition.

This includes how energy policies can provide affordable renewable-energy technologies for marginalized and low-income families, how the transition can create employment opportunities, and how all stakeholders can take part in the transition from fossil fuels to renewables. The commission’s first report also selected best practices from various countries around the world to help address the seven outlined questions.

During his opening remarks, IEA executive director Fatih Birol said the global transition to renewables is building “unprecedented momentum,” but he noted that everyone had to feel the benefits of the transition to maintain the momentum. According to Birol, the Global Commission looks forward to working to ensure that energy policies and strategies around the world prioritize fairness and equity.

Silveira also said that Brazil was ready to work with other members of the commission to ensure affordability, inclusivity and fairness are central to its green-energy transition strategies and that the most vulnerable communities benefit from the transition. Members of the commission will spend the next several months creating an implementation road map outlining all the options and policy tools lawmakers and international stakeholders can use to address the report’s seven key questions.

The collaboration between various stakeholders, including governments and for-profit entities such as Energy and Water Development Corp. (OTCQB: EAWD), is likely to increase the chances of a faster uptake of clean energy and a reduction in the cost of those solutions.

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