International Energy Association Current Affairs
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India, world’s 3rd largest energy consumer has joined International Energy Association (IAE) as associate member. India will also now have a greater say in global energy issues.
With India as a associate member, IEA now formally covers 70% of the world’s energy consumption, thus increasing its relevance.
- India’s participation will enrich the energy efficiency and renewable sectors of IEA members and other countries.
- India will gain from IEA’s data gathering processes, survey methodologies and range of energy data, which will enable India in the near future to set up its own robust integrated database agency.
- It also gives an opportunity to India to be the voice of the developing world and represent the interests of the emerging markets. It will enable India to be involved in the key committees and dialogues of the IEA.
About International Energy Association (IEA)
- IEA is an inter-governmental organization established in 1974 as per framework of the Organisation for Economic Co-operation and Development (OECD).
- It was established in the wake of the 1973 oil crisis after the OPEC cartel had shocked the world with a steep increase in oil prices.
- Members: Presently it has 29 member countries. India is lone associate member of IAE.
- Headquarters (Secretariat): Paris, France.
- Mandate: Its prime focus is on the “3Es” of effectual energy policy: energy security, economic development and environmental protection.
- It also seeks to promote alternate energy sources (including renewable energy), rational energy policies and multinational energy technology co-operation.
- It acts as energy policy advisor to 29 member countries and also non-member countries like China, India and Russia.
- Publications: World Energy Outlook report.
- Relevance: Today, IEA is an important part of global dialogue on energy, providing research, statistics/data, analysis and recommendations on the global energy sector.
- Over 70% of world’s energy consumption is now under the IEA umbrella which increases its relevance in global energy governance manifold.