16 Jun 2023 International Energy Agency (IEA)
This article covers “Daily Current Affairs” and the topic details “International Energy Agency (IEA)”. The topic “International Energy Agency (IEA)” has relevance in the Energy Security section of the UPSC CSE exam.
Relevance:
For Prelims:
What is the International Energy Agency (IEA)?
For Mains:
GS 3: Energy Security
Functions of the International Energy Agency (IEA)?
India and International Energy Agency (IEA)?
Why in the news?
Executive Director of the International Energy Agency (IEA) Fatih Birol said that India is at the Centre of global energy affairs
What is the International Energy Agency (IEA)?
IEA stands for the International Energy Agency. It is an autonomous agency that operates within the framework of the Organisation for Economic Co-operation and Development (OECD). The IEA was established in 1974, in Paris, in response to the oil crisis and its mission is to promote energy security, economic growth, and environmental sustainability worldwide.
Functions of the International Energy Agency (IEA)?
- Energy Security: The IEA works to enhance energy security through various programs and tasks, such as:
- Strategic Petroleum Reserve (SPR): The agency coordinates the establishment and management of emergency oil stocks among its member countries to address potential disruptions in oil supplies.
- Oil Market Analysis: The IEA closely monitors global oil markets, analyzing supply-demand dynamics, production levels, and geopolitical factors to provide timely market assessments and early warnings of potential supply disruptions.
- Energy Technology Collaboration Programmes (TCPs): The IEA facilitates collaboration among member countries through TCPs. These programs focus on specific energy technologies or sectors, such as renewable energy, energy storage, bioenergy, hydrogen, and more. They aim to accelerate technology development, deployment, and knowledge sharing.
- Energy Efficiency: The IEA places significant emphasis on promoting energy efficiency as a key component of sustainable energy policies. It undertakes programs and tasks including:
- Energy Efficiency Policies and Measures: The agency provides guidance and policy recommendations to member countries on improving energy efficiency across various sectors, including buildings, industry, transportation, and appliances.
- Energy Efficiency Data and Analysis: The IEA collects and analyzes energy efficiency data, develops indicators, and produces reports to track progress, identify best practices, and inform policy decisions.
- Clean Energy Transitions: The IEA supports member countries in transitioning towards cleaner and more sustainable energy systems. This includes:
- Renewable Energy Integration: The agency provides technical expertise and policy guidance on integrating renewable energy sources into the grid, addressing intermittency challenges, and promoting renewable energy deployment.
- Energy Technology Roadmaps: The IEA develops technology roadmaps for different energy sectors, outlining pathways and policy recommendations to achieve decarbonization goals and promote clean energy transitions.
- Energy Access: The IEA works towards expanding access to modern, reliable, and affordable energy services in developing countries. It carries out tasks such as:
- Providing Policy Support: The agency offers policy advice and technical assistance to developing countries to improve energy access, particularly in rural and remote areas.
- Energy Access Data and Analysis: The IEA collects data on energy access indicators and analyzes progress to track achievements and identify areas for targeted interventions.
- Energy Policy Analysis and Recommendations: The IEA conducts in-depth analysis of energy policies, trends, and scenarios to provide member countries with policy recommendations and insights for informed decision-making. This includes publications like the World Energy Outlook, which provides long-term energy projections and policy scenarios.
India and International Energy Agency (IEA)?
- India’s engagement with the IEA predates its official association as an Associate member in March 2017. The country has maintained a longstanding relationship with the organization, actively participating in energy-related discussions and benefiting from the IEA’s expertise.
- In a significant development in 2021, India and the IEA signed a Strategic Partnership Agreement. This agreement aims to strengthen cooperation between the two entities in the areas of global energy security, stability, and sustainability. The agreement sets the stage for enhanced collaboration on key energy issues.
- Building on the India-IEA strategic partnership, the IEA extended an invitation to India to deepen its cooperation further by becoming a full Member. This invitation reflects the recognition of India’s growing importance in the global energy landscape and highlights the potential for increased collaboration in addressing energy challenges.
- Reason for Offering Membership to India:
- India’s growing prominence in global energy dynamics is evident. A comprehensive assessment of India’s energy policies, published in January 2020, indicates a significant surge in the country’s energy demand, especially in terms of electricity consumption.
- Given India’s considerable dependence on fuel imports, enhancing energy security has emerged as a crucial agenda for the nation’s economy.
Q.1 Which of the following statements regarding the International Energy Agency (IEA) is/are correct?
1.The IEA is an autonomous agency operating within the framework of the United Nations.
2.It primarily focuses on promoting energy security, economic growth, and environmental sustainability worldwide.
3.India is a member country of the IEA.
4.The IEA facilitates international collaboration in energy research and development through its Technology Collaboration Programs (TCPs).
Select the correct answer using the codes below:
(a) 2 and 4 only
(b) 2 and 3 only
(c) 1, 2, and 4 only
(d) 2, 3, and 4 only
Answer: (a)
Q.2 Which of the following statements about the International Energy Agency (IEA) is correct?
(a) The IEA was established in response to the oil crisis of 1974.
(b)The IEA primarily focuses on promoting coal-based energy production.
(c)The IEA consists of member countries from the Organization of Petroleum Exporting Countries (OPEC).
(d) The IEA’s main objective is to regulate global energy prices.
Answer: (a)
Q.3 “The International Energy Agency (IEA) plays a crucial role in shaping global energy policies and addressing key energy challenges. Discuss the significance of the IEA in promoting energy security, clean energy transitions, and sustainable development. Evaluate India’s engagement with the IEA and its potential implications for India’s energy sector and national energy goals. Provide recommendations on how India can further enhance its collaboration with the IEA to address emerging energy challenges.”
Yojna ias daily current affairs eng med 16th June 2023
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