IEA Contribution to G20 Energy in 2020
Under the Saudi Presidency of the Group of Twenty (G20), the IEA played a crucial role in convening an Extraordinary G20 Energy Ministerial on 10 April 2020 in the context of the turmoil in global oil markets. The IEA Executive Director updated Energy Ministers of the G20 on the state of energy markets and energy security at their regular G20 Energy Ministers Meeting on 27 September 2020.
Ahead of the Ministerial, the voice of global business, the Business20 (B20) and the IEA issued a joint statement calling on G20 Leaders to accelerate clean energy transitions for a resilient economic recovery.
During the course of 2020, the IEA was active in the deliberations of the Energy Sustainability Working Group and the Climate Stewardship Group and its related workshops and forums, highlighting the impacts of Covid-19 on the energy markets, on investment and outlining opportunities for the sustainable recovery of the G20 economies and energy technology and innovation.
Under the energy track, IEA analysis supported the discussions of the four priorities of boosting cleaner and more sustainable energy systems, universal access to affordable and sustainable energy, more secure energy systems and energy market stability.
Under the climate track, IEA’s energy technology analysis and clean energy progress tracking supported the discussions on reducing emissions in hard-to-abate sectors, notably transport and industry sectors, like cement, iron and steel and metals. The IEA also contributed to the Presidency’s report on managing emissions.
The IEA was invited by the Kingdom of Saudi Arabia to present analysis to the G20 Energy Ministers with three dedicated reports on energy efficiency, reuse of carbon dioxide and hydrogen, under the Guide on the Circular Carbon Economy (CCE), which tracks potential for reducing, reusing, recycling and removing emissions, under the lead of King Abdullah Petroleum Studies and Research Center (Kapsarc).