COVID-19 Focus on Energy Security, Markets & Sustainability
The COVID-19 pandemic has been a shock to the global economy and energy markets. Not even during the Global Financial Crisis of 2007-2008 has the world experienced such a sudden and steep drop in global energy demand as in the second quarter of 2020. The International Energy Forum (IEF) will use its global platform to focus on the pandemic’s various impacts on the energy sector amid the path to a swift and sustainable recovery.
International dialogue and collaboration on energy and climate policy, as well as COVID-19 stimulus and recovery measures, is important to foster the policy cohesion the world needs to pull together, recover, and prosper.
The global impact of the COVID-19 pandemic will continue to affect societies differently since levels of exposure, national circumstances, and policy priorities vary. Energy markets rely on a wide array of energy and environmental policies, stimulus, and recovery measures to energize a swift and sustainable recovery and reach the shared goals our new world needs.
While new data emerges, in what remains a very fluid and uncertain environment, dialogue and collaboration on the platform that the IEF provides deepens insight and restores energy market confidence. Making government and industry strategies more transparent reduces barriers to the investment, trade, and technology transfer on which present and future generations depend.
Reliance on the partnerships and goodwill that IEF member countries have developed over the past decades will help:
- Producer and consumer countries overcome an unprecedented global crisis
- Make newly emerging risks and opportunities more transparent faster
- Bring solutions to markets at the speed and scale the world needs
Dialogue and collaboration offer an opportunity for Member Countries and all stakeholders to gain insights, learn lessons and recover stronger. The IEF will continue to provide its global platform to focus on COVID-19 impacts to energy security, markets and sustainability in the months ahead.