ROME, Italy — The World Energy Council (WEC) has come up with seven policy recommendations to spur development of clean and reliable energy in all regions.
In a paper presented at the 20th WEC Congress, the group said these policy areas should be addressed now to raise investment in clean energy infrastructure.
Founded in 1923, WEC is the foremost global multi-energy organization covering all types of energy-coal, oil, natural gas, nuclear, and renewables. It is a non-commercial, non-governmental and non-aligned organization accredited with the United Nations.
It is headquartered in London but has member committees in over 90 countries, including most of the largest energy-producing and energy consuming countries.
Its members are divided into regional groups: Africa, North America, Latin America and the Caribbean, Asia and the Pacific, Central Asia and Europe.
WEC was founded to promote a sustainable supply of energy for the greatest benefit of all people and works to facilitate research and knowledge sharing about technology, consumption, environmental issues, energy production and management of energy sources.
In a paper titled “Deciding the future: energy policy scenarios to 2050,” the WEC said that to meet the energy demand of all households worldwide, energy supplies must double by 2050.
“The challenge will be how to get these resources and energy service from where they are produced to the places that have the greatest need for them,” it said.
In the paper, the WEC enumerated several recommendations that may guide its member countries in crafting their respective energy-related policies.
Foremost among the areas that should be taken into consideration, the WEC said, is the promotion of energy efficiency through the use of all available methods along the entire energy chain — from exploration to final energy use, including consumer awareness campaigns, financial incentives, standards and regulations.
The WEC also stressed the importance of public awareness. The group said the transport sector can play an important role in more efficient energy use though changes in urban planning, energy efficiency measures and technology development.
Setting a global price for carbon high enough to drive prices, the WEC noted, is also important to motivate behavior changes and low enough not to hamper strong economic growth.
WEC said there is also a need for closer integration of energy markets regionally and globally for greater economies of scale in energy demand and supply.
“To achieve this a new set of international trade rules for energy will address concerns over how to reconcile global energy trading and investment with a rising wave of energy company renationalizations, the buildup of national energy champions, and escalating tensions between producer and consumer countries.
The WEC is also urging its members to look at the possibility of creating a new international framework for technology transfer from developed and developing countries that respect international property, help countries develop technologies meeting their energy priorities, and develop local skills.
Global dialogue on security of supply and demand is also crucial. “Energy consuming countries and regions are concerned about the threat to their way of living without secure supplies. Likewise, energy supplying countries are concerned about similar threats from a lack of assured demand. New international models of cooperation that provide for long term security on both sides are in order,” it said.
The global body said taxation, legal and commercial frameworks that limit investment risk and fostering realistic expectations for risk and return should also be focused on.