World Energy Congress
GLOBAL GOVERNANCE KEY
TO A SUSTAINABLE ENERGY FUTURE
To achieve a sustainable energy future will require an unprecedented level of global cooperation between industry and government, and deeper integration of regional and international energy markets, the World Energy Council said Thursday at the conclusion of its 20th World Energy Congress.
The three years leading to the Montréal 2010 World Energy Congress will determine the next 30 years of our energy system. To foster a high level of cooperation during these crucial years, WEC is expanding its global mandate, which will address the three most important challenges of energy sustainability: eradicating energy poverty, setting the global value of carbon, and establishing global rules of energy trading and investment amid growing energy nationalization.
To guide these decisions, WEC's new global mandate will from today include the following responsibilities:
A global framework to curb greenhouse emissions beyond 2012 that will also ensure a stable carbon price
Global rules of energy trade and investment
New financial schemes limiting investment risk and offering realistic returns
More government engagement and public-private partnerships to address increasing global energy interdependence, a key strategy to eradicate energy poverty
Increased input by industry will lead to more effective government policies that ensure investment incentives are maximized for the long term. Substantial investments are needed to double global energy supplies by 2050 and will also result in lower energy intensity without a consequent rise in carbon emissions.
"WEC is optimistic a third energy revolution can be accomplished if urgent action is taken to vigorously pursue all energy options," said André Caillé, outgoing WEC Chairman. "Industry has all the latest available technologies needed to develop fossil fuels, nuclear, large hydro and renewables that reconcile development with climate change."
WEC believes fossil fuels will remain a main fixture of the world's energy supply for the next generation, but more spending on research and development of new technologies is needed to deliver cleaner and alternative forms of energy and to boost energy efficiency. Energy conservation must also become a high priority for future energy security.
"The Rome Congress has energized discussion of Italy's energy policy and highlighted the need to open public debate on the role of nuclear power," said Chicco Testa, Vice Chair of the WEC Rome Congress 2007.
Nuclear power will be an important and growing share of the energy mix. A global reduction in emissions will require an important focus on transport, including on the global development of biofuels.
"Our goals should be to move now towards responsible economic development, climate protection and the reduction of global inequalities. We have to act quickly to address those global issues involving governments and companies as well as individuals. With its worldwide membership, WEC is the perfect organization to assemble all stakeholders, which is vital to elaborate the concrete solutions we need today," said Pierre Gadonneix, Chairman of the World Energy Council, Chairman and CEO of Electricité de France.
The World Energy Council is the most representative body of the energy industry with members in 96 countries. Its mission is to promote the sustainable supply and use of energy for the greatest benefit of all. The London-based organization has official consultative status with the United Nations.
This document is available to download:
Congress Conclusions ( PDF File, 51KB)