{"id":15556,"date":"2021-06-07T00:00:00","date_gmt":"2021-06-07T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/07-06-2021\/world-energy-investment-report-iea\/"},"modified":"2024-08-07T18:46:14","modified_gmt":"2024-08-07T13:16:14","slug":"world-energy-investment-report-iea","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/07-06-2021\/world-energy-investment-report-iea","title":{"rendered":"World Energy Investment Report: IEA"},"content":{"rendered":"<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>In News<\/u><\/strong><\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Recently, the International Energy Agency released the World Energy Investment 2021 report.\u00a0<\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>Major highlights of the report\u00a0<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Investment<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Global energy investment is expected to rebound this year and <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>increase 10 per<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> cent year-on-year to <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>around $1.9 trillion<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: square;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Most of this investment will flow t<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>owards power and end-use sectors<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, shifting out of <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>traditional fossil fuel <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">production.\u00a0<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The scenario is perfectly aligned with the projection that global energy demand will rise<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> 4.6 per cent year-on-year in 2021, <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">offsetting its contraction in 2020.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #1155cc;\"><strong><u>Renewable sector<\/u><\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Renewable power <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">\u00a0will have the largest share <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>around 70 per cent<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> of the total <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>$530 million<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> which will be spent on new<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> power generation capacity<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">There will be <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>substantial gain of renewable<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> energy as the future energy outlook has been dependent on<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> technological development<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, well-established supply chain and demand from consumers for carbon-neutral electricity.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><img decoding=\"async\" style=\"height: 291px; width: 624px;\" src=\"https:\/\/lh3.googleusercontent.com\/-kOMs-G7DE0tirnOSJF86fUTmuwBwwEQB44mdmpXfdhd_diY_u__2AEvst0XZITMYZASK5cf3LlleHr2raGF0_8rsF5778dpYAFSmkXu_zynk5I5bmHgTo5ER1w3OF8ly2F6ptzy\" \/><\/span><\/span><\/span><\/p>\n<p style=\"margin-left: 48px;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong><\/span><\/span><\/span><a style=\"text-decoration: none;\" href=\"https:\/\/www.downtoearth.org.in\/blog\/climate-change\/renewable-energy-estimated-to-attract-70-global-energy-investment-in-2021-iea-77263\" target=\"_blank\" rel=\"noopener\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #1155cc;\"><strong>\u00a0\u00a0\u00a0<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #1155cc;\"><strong><u>Image Courtesy:DTH<\/u><\/strong><\/span><\/span><\/span><\/a><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Fuels<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">:<\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Upstream investment in oil is expected to <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>grow 10 per cent.\u00a0<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: square;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">This expansion in<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> fossil fuels was planned with novel technologies<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> like carbon capture and storage (CCS) and bioenergy CCS, which are yet to attain commercial success.\u00a0<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: square;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The increment of coal-fired power in 2020, mostly driven by China, is indicating that \u2018coal is down but not yet out\u2019.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: square;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Energy efficiency sector will also see a <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>substantial rise (10 per cent<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">) in investment, though the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>low fossil fuel price<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> may act as a deterrent.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Emissions<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">\u00a0<\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">\u00a0The above positive scenarios will still not deter the increase in carbon dioxide <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>emission<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, after contraction in 2020 mainly due to <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>economic slowdown induced <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">by the novel coronavirus disease (COVID-19) pandemic.\u00a0<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Global emission is set to grow by <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>1.5 billion tonnes this year.<\/strong><\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The pandemic recovery strategies in many countries <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>lack the required stimulant <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">towards <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>emission biennial technologies and pathways<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">\u00a0The rhetoric around<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> \u2018Net Zero\u2019 is gaining momentum<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> but its transition to<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> actual action is not visible.<\/strong><\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div>\n<table style=\"border-collapse: collapse; border: none; table-layout: fixed; width: 624px;\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td style=\"background-color: #fff2cc; vertical-align: top; border: 1px solid #000000;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>About Net-zero<\/u><\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It\u00a0 is also referred to as <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>carbon-neutrality<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, does not mean that a country would bring down its emissions to zero. Rather, <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>net-zero is a state<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> in which a <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>country\u2019s emissions<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> are <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>compensated by absorption and removal of greenhouse gases<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> from the atmosphere.\u00a0<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Absorption of the emissions can be increased by<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> creating more carbon sinks<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> such as forests, while removal of gases from the atmosphere requires futuristic technologies such as carbon capture and storage<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Causes for increased emissions<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The emerging market is almost <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>70 per cent responsible for demand growth<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> and India plays an important part in this block.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">\u00a0China is showing a <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>tremendous expansion in coal-based powe<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">r production \u2014 their coal consumption in December 2020 was a historic high \u2014 though the country has a commendable renewable growth.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The responsibility-share of d<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>eveloped nations should not be undermined<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">: Their in-country growth of emission is moderate but their exported emission is of concern.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">\u00a0Australia\u2019s exported emission through<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> coal is double its domestic emissio<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">n,\u00a0<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The United States has shown renewed commitment to the multilateral United Nations system for tackling<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> climate change by re-joining the <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #1155cc;\"><strong><u>Paris agreement<\/u><\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #1155cc;\"><u>.<\/u><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">\u00a0<\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The country\u2019s fascination with cheap shell gas is creating an investment distortion and adversely affecting the sustainability of developmental pathways of countries like India.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>Conclusion\u00a0<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The scenario varies from country to country but <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>favourable policies and regulations<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> play a very important role in providing <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>long-term confidence <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">among the investors towards renewables.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">\u00a0The urgency visible in <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>communication <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">is still not <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>satisfactorily reflected<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> in action and the world is far away from the s<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>cientific target of limiting climate change<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> within two degrees Celsius.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Maybe a <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>more democratic decision-making process<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> and <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>de-corporatisation<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> of the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>energy sector is the need of the future<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> for the survival of civilization on this planet.<\/span><\/span><\/span><\/li>\n<\/ul>\n<div>\n<table style=\"border-collapse: collapse; border: none; table-layout: fixed; width: 624px;\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td style=\"background-color: #fff2cc; vertical-align: top; border: 1px solid #000000;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>International Energy Agency (IEA)<\/u><\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Created in 1974<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> to ensure the security of oil supplies.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The IEA is an <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>autonomous inter-governmental organisation<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> within the OECD framework.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The IEA was<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> established as the main international forum<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> for energy co-operation on a variety of issues such as security of supply, long-term policy, information transparency, energy efficiency, sustainability, research and development, technology collaboration and international energy relations.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The IEA works with <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>governments and industry <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">to shape a secure and sustainable energy future for all.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It is made up of <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>30 member countries, 8 association countries, and 3 accession<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> countries. A candidate country to the IEA must be a member country of the OECD.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">India became an Associate Member of IEA in 2017.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>It\u2019s areas of work includes:<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Promoting energy efficiency<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Energy security<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Programmes and partnerships<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">International collaborations<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Promoting digital demand-driven electricity networks<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Data and statistics<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Training<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Technology collaboration<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Global engagement<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Industry engagement<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Other important reports published by IEA are:<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">World Energy Outlook<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Energy Technology Perspectives<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">World Energy Balances<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">World Energy Statistics<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><a style=\"text-decoration: none;\" href=\"https:\/\/www.google.com\/amp\/s\/www.downtoearth.org.in\/blog\/climate%2520change\/amp\/renewable-energy-estimated-to-attract-70-global-energy-investment-in-2021-iea-77263\" target=\"_blank\" rel=\"noopener\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #1155cc;\"><u>Source: DTE<\/u><\/span><\/span><\/span><\/a><\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In News Recently, the International Energy Agency released the World Energy Investment 2021 report.\u00a0 Major highlights of the report\u00a0 Investment Global energy investment is expected to rebound this year and increase 10 per cent year-on-year to around $1.9 trillion. Most of this investment will flow towards power and end-use sectors, shifting out of traditional fossil [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[30,90,89],"class_list":["post-15556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-gs-2","tag-their-structure-mandate","tag-various-agencies-fora"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/5476515current-affairs.jpg","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/15556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=15556"}],"version-history":[{"count":2,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/15556\/revisions"}],"predecessor-version":[{"id":27248,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/15556\/revisions\/27248"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/15557"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=15556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=15556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=15556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}