IEF and the G20
The Group of 20 is an intergovernmental forum of the world’s major economies comprising of 19 countries and the European Union. Founded in 1999, the group accounts for 80 percent of the world's GDP, three quarters of global trade and 60 percent of the world's population.
The group has no permanent secretariat, but operates with a rotating annual presidency which currently resides with Indonesia. It works to address critical issues related to the global economy, including financial stability, energy and the environment.
The IEF is an active participant in G20 meetings.
The mission of the IEF to strengthen global energy security, market transparency, and facilitate energy transitions remains closely aligned with the core objectives of the G20 to promote global economic stability, inclusive and sustainable growth, as well as to modernize international governance systems.
The IEF and G20 are united on many central issues and growing closer to meet new challenges.
The member countries of the IEF and G20 rely on each other to reduce risks, prevent, and respond to global economic and energy market disruptions, as illustrated by their collaboration during the COVID-19 pandemic. International engagement has never been more important and valuable for the world economy to achieve shared goals ranging from alleviating energy poverty to implementing effective responses to climate change.
Global prosperity and wellbeing depend on the secure, sustainable, and transparent functioning of energy markets, including unhindered trade and investment in energy and technology and by building on partnerships in producer-consumer relations. Broadly framed, neutral, and data-driven dialogue, in collaboration with other key international organizations, helps IEF and G20 member countries meet the challenges of the 21st century.
Changes in the global energy market landscape and international governance will continue to lead to closer alignment and stronger partnership between member country governments and market stakeholders on both platforms.