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HOME » G8 ENERGY |
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WHAT IS THE G8 ENERGY MINISTERS MEETING? |
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The theme of the G8 Energy Ministers Meeting is "Beyond the crisis: towards a new world order for energy."
The Meeting, which will be preceded by the Energy Business Forum, will see the participation of Ministers from Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States - and the European Commission. Also participating will be Ministers from emerging economies including China, India, South Africa, Brazil, Mexico, Saudia Arabia and Egypt and Ministers from countries of the Pacific region and Africa.
The problems that the Italian presidency would like to address are the promotion of investment for energy security and sustainable development, energy strategies to combat global climate change and action to fight energy poverty, with a particular focus on Africa.
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Heads of State and Government Leaders from the Group's eight Member countries - Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States - and the European Commission will meet for the G8 Summit on in the town of L'Aquila in July 2009. The Summit agenda includes the discussion of measures aimed at facing the global economic crisis, relaunching economic and social development, defending the environment, promoting energy security and fighting energy poverty. The declarations resulting from the Summit are not binding but do commit Heads of state and Government Leaders to define priorities and policies they intend to adopt.
Energy is a fundamental element for world economic development.
The G8 Energy Ministers Meeting will be held in Rome on May 24-25 2009 and promoted by the Italian government as an element of its presidency of the G8 towards the Summit.
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Because of the globalisation of markets and the complexity of the challenges to be faced, the Energy Ministers Meeting will include the G8 countries as well as representatives of the emerging economies of Asia, Latin America and Africa.
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The first objective of the Energy Ministers Meeting is to define common strategies to cope with global climate change, through the involvement and commitment of all countries, developed, emerging and developing, each of them contributing in an effective manner, in accordance with the principle of common but shared responsibilities. It is therefore proposed to strengthen co-operation for the development of low-carbon technology, to harmonise long-term national energy policies and to agree on flexible mechanisms for energy technology collaboration with emerging economies and less developed nations.
The second objective of the Energy Ministers Meeting is to promote energy investment for security and sustainable development.
Investments in new energy and technology programmes are being postponed or cancelled because of uncertainty in the financial markets and falling demand. As soon as the crisis will be over, cutbacks in energy investments could provoke shortage of capacity with new price spikes and energy market instabilities. It is necessary as of now to intervene, to foster dialogue between producing countries and consuming nations, to promote market transparency, improved relations between national and international companies while extending international co-operation for research technological innovation and preparing humans resources.
The third objective is to determine measures that will help reduce energy poverty. It is estimated that almost two billion people around the globe are without access to modern energy services. Lack of energy resources hinders development of integrated production systems in an open economy, provokes social instability and migrations, exacerbates shortages of drinking water, impedes safe storage of food supplies and blocks access to modern communication and education.
As part of the effort to overcome these problems, especially with regard to Africa, Energy Ministers may identify new actions to increase electricity access in rural areas and develop energy networks across the African continent.
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