International Energy Agency

Why in news?

• Recently, executive director of the International Energy Agency (IEA), said it would review all its membership conditions for India’s inclusion in the world’s premier energy monitoring organization

About International Energy Agency:

• IEA is a Paris-based autonomous intergovernmental organisation established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the 1973 oil crisis.
• As a result, countries seeking to become members of the IEA must also be members of the OECD.
• The IEA was initially dedicated to responding to physical disruptions in the supply of oil, as well as serving as an information source on statistics about the international oil market and other energy sectors.
• But over the years, the IEA's mission has expanded substantially and today the agency is working with major economies around the world to enhance energy security and to help accelerate their clean energy transitions
• The Agency's mandate has broadened to focus on the "3Es" of effectual energy policy: energy security, economic development, and environmental protection.

Members and Association countries:

• Currently IEA has 30 member countries (All of them are OECD countries).
• Starting in 2015, the IEA has been opening its doors to major emerging economies that are at the centre of the global conversation on energy.
• Since then, eight countries have joined the IEA's Association programme:
• Brazil, China, India, Indonesia, Morocco, Singapore, South Africa and Thailand.
• IEA is made up of 30 member countries and eight associate nations.
• Four countries are seeking accession to full membership – Chile, Colombia, Israel and Lithuania.
• IEA now represents 75% of global energy demand.

Add ons:

• The IEA has a broad role in promoting alternate energy sources (including renewable energy), rational energy policies, and multinational energy technology co-operation.
• IEA publishes the annual ‘World Energy Outlook’ report.

PRACTICE QUESTION

With reference to ‘International Energy Agency’, consider the following statements:

1. To become a member of International Energy Agency, a country should eliminate all of its strategic oil reserves.

2. World Energy Outlook report is published by International Energy Agency

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Answer