Title : INTERNATIONAL ENERGY AGENCY

Date : Feb 08, 2022

Description :

GS III

 

Topic à Conservation related issues:

 

• About the IEA:

 

• Established in 1974 under the aegis of the OECD, the IEA is an independent government agency.
• Its mission is guided by four areas of focus: energy security, economic development, environmental awareness and globalization.
• Headquarters (Secretariat) are located in: Paris, France.

 

• Roles and responsibilities:

 

• It was founded in the wake of the 1973-1974 oil crisis, to help its members respond to the massive disruption of the oil supply, a role that continues to be fulfilled till today.
• The IEA’s mandate has expanded over time to include monitoring and analysing global energy trends, promoting sound energy policy, and promoting international technology cooperation.

 

• Its Composition:

 

• It currently has 30 members & 8 association countries.
• To be a member of IEA, a country must be a member state of the OECD.
• But not all OECD members are members of the IEA.

 

 

• To become a member the country must show that it has:

 

• Crude oil reserves equal to 90 days of net import last year, which the government has access to immediately (even if not directly owned) and can be used to address global oil supply disruptions.
• Demand prevention program to reduce national consumption by 10%.
• Legislation and order implementation of Responsible Emergency Response Measures (CERM) nationally.
• Legislation and measures to ensure that all oil companies under their jurisdiction report details when requested.
• Existing measures to ensure the capacity to contribute to its IEA joint action plan.

 

• Source à The Hindu

Tags : CERM, energy security