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IEA: Clean energy investment key to crisis response

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International Energy Agency (IEA) executive director Fatih Birol has urged energy ministers from the world’s largest economies to prioritise actions to ensure secure, affordable and sustainable energy in response to the crisis the world currently faces.
The top-level G20 Energy Transitions Ministerial Meeting in Bali, Indonesia, held under the G20 Presidency of Indonesia, was chaired by Minister of Energy and Mineral Resources Arifin Tasrif.
The meeting took place against the backdrop of the major turmoil in global energy markets triggered by Russia’s invasion of Ukraine.
The IEA has played a major role supporting the energy transitions agenda of Indonesia’s G20 Presidency this year, including a new Net Zero Roadmap for Indonesia and joint high-level statement on net-zero - reflecting its deep and long-term cooperation with the Indonesian government.
In his remarks to the ministers, Dr Birol highlighted the impact of the surge in energy prices on the developing world where it is depriving people of the ability to pay for essential electricity and clean cooking services.
He stressed that the best way out of the crisis was a massive increase in clean energy investment, especially in emerging and developing economies, and called on advanced economies to mobilise more financing to support clean energy transitions in the developing world.
On the sidelines of the ministerial, Dr Birol had meetings with a series of ministers, including Australia’s Minister of Climate Change and Energy Chris Bowen; India’s Minister of Power and New & Renewable Energy Raj Kumar Singh; Japan’s Minister of Economy, Trade and Industry Yasutoshi Nishimura; Singapore’s Minister for Manpower & Second Minister for Trade and Industry Tan See Leng; and Japan’s Parliamentary Vice Minister for Foreign Affairs Kei Takagi.