Context:
Recently, the International Energy Agency (IEA) launched the Clean Energy Transitions Programme annual report 2023.
Relevance:
GS III: Energy
About the Clean Energy Transitions Programme:
- Introduced in 2017, the Clean Energy Transitions Programme is the International Energy Agency’s (IEA) premier initiative designed to hasten the advancement towards a global net-zero energy system.
- Utilizing the expertise and authority of the world’s leading energy organization, it focuses on expediting clean energy transitions, especially in emerging and developing nations.
- The programme’s objectives align with the targets set by the 2015 Paris Agreement and the Sustainable Development Goals set forth by the United Nations.
Key facts about the IEA:
- The IEA is an independent intergovernmental organization operating within the framework of the Organisation for Economic Co-operation and Development (OECD).
- Collaborating with governments and the industry, the IEA aims to shape a resilient and sustainable energy landscape for everyone.
- Established in 1974, its primary mission was to safeguard the stability of oil provisions.
- The formation of the IEA was prompted by the 1973-1974 oil crisis, during which an oil embargo imposed by major producers led to soaring prices, highlighting the susceptibility of industrialized nations to oil import reliance.
- Currently, the IEA comprises 31 member countries and eleven associate countries.
- For a nation to be considered for IEA membership, it must already be a member of the Organisation for Economic Co-operation and Development (OECD).
