International Energy Forum Plays Vital Role in Global Energy Governance - G20 Leaders
The International Energy Forum (IEF) serves a vital role in energy diplomacy by serving as the principal convener of independent global dialogue, according to leading world authorities.
This dialogue is needed today more than ever to defend energy security, protect market stability and promote transparency, while addressing climate change, and guaranteeing just and orderly transitions that work for all, they said.
Leaders of the Group of 20 largest world economies (G20) endorsed the role of the IEF as the facilitator of "intensive dialogue" between producers and consumers in a declaration issued after their October 30-31 summit in Rome.
"The G20 in collaboration with the International Energy Forum will facilitate a dialogue between producers and consumers to bolster the efficiency, transparency and stability of the energy markets," the declaration said.
Daniel Yergin, the Pulitzer Prize-winning author of The Prize and Chairman of CERAWeek, said the IEF's role had become even more critical as the world seeks to accelerate the transition to net zero.
"The IEF as an organization that can bring people together for dialogue on issues of common concern, energy and the issues around it, you have a really important role to play in a world that has gotten more complicated," he told IEF Secretary General Joseph McMonigle during a recent podcast.
At a Special Gas Market Dialogue held in November, leading authorities highlighted the value that the forum brings to global energy governance.
Amos Hochstein, the U.S. Department of State Senior Advisor for Global Energy Security, said: "The consumer-producer dialogue that IEF was clearly created for is more important now than ever to make sure that we have a dialogue."
Kamal Abbasov, Deputy Minister of Energy of Azerbaijan, said the IEF's forums were "particularly important during these unprecedented times of uncertainty and price hikes of historical proportions. It's equally important to hear all voices, from the governments, international organizations, and industry leaders."
Joseph McMonigle, Secretary General of the IEF, said the Special Gas Market Dialogue was an example of the IEF's commitment to promote market stability. "An open exchange of views is key at this time in helping to restore market stability and affirm investor confidence, and the IEF is honored to serve as convener for these important conversations," he said.
The world's largest organization of energy ministers, the IEF's 71 members account for 90 percent of global energy trade.