Important International Institutions, Agencies and Their Structure, Mandate

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1.AGREEMENT WITH IEA

India has inked a Strategic Partnership Agreement with the International Energy

Agency (IEA) to strengthen cooperation in global energy security, stability andsustainability.

Objective: To encourage and promote strategic and technical cooperation in theenergy sector.

Benefits:

  • It will lead to a wider exchange of knowledge and will be a step towards makingIndia a full member of the IEA.
  • Strengthen mutual trust and cooperation & enhance global energy security,stability and sustainability.
  • A phased increase in benefits and responsibilities for India as an IEA strategicpartner.
  • Building on existing areas of work and the Clean Energy TransitionsProgramme (CETP), such as energy security, clean and sustainable energy,energy efficiency, enhancing petroleum storage capacity, expansion of gas-basedeconomy in India etc.

Implementation of the Agreement: IEA Secretariat

INTERNATIONAL ENERGY AGENCY

  • In 1974 as per framework of the Organization for Economic Cooperationand Development (OECD).
  • IEA is an autonomous intergovernmentalorganisation.
  • Established in the wake of the oil crisis of 1973-1974, to help its membersrespond to major disruptions in oil supply.
  • Over time, the mandate of the IEA has expanded to include tracking andanalyzing key global energy trends, promoting sound energy policy and encouragingmultinational energy technology cooperation.
  • Its mission is to ensure reliable, affordable and clean energy for its membercountries and beyond.

Its mission is guided by four main areas (4E’s):

  1. Energy Security,
  2. Economic Development,
  3. Environmental Awareness and
  4. Engagement Worldwide.

Headquarter (Secretariat): Paris (France).

  • The Governing Board is the main decision-making body of the IEA.
  • It is composed of energy ministers or their senior representatives from eachMember country.
  • It has 30 members at present.
  • A candidate country must be a member countryof the OECD. But all OECDmembers are not IEA members.

ELIGIBILITY FOR MEMBERSHIP:

  • Crude oil and/or product reserves equivalent to 90 days of the previousyear’s net imports.
  • India falls shorton the criteria of Crude oil reserve: India stores 10days of the country’s crude oil requirements currently, with domesticrefiners also maintaining 65 days of crude storage.
  • The government is alsobuilding strategic crude oil reservesto support another 12 days of crudeoil needs.

REDUCE NATIONAL OIL CONSUMPTION BY UP TO 10%.

  • Legislation and organisation to operate the Coordinated EmergencyResponse Measures (CERM)on a national basis.
  • Measures in place to ensure the capability of contributing its share of an IEAcollective action.

CLEAN ENERGY TRANSITIONS PROGRAMME (CETP)

  • Launched in November 2017,the IEA Clean Energy Transitions Programme (CETP)is an effort to accelerate global clean energy transitions.
  • The programme provides independent, cutting-edge support to governments in orderto catalyze the global transition towards more sustainable energy production and use.
  • Priority countries include Brazil, China, India, Indonesia, Mexico and SouthAfrica, as well as other IEA Association countries and key regions such asSoutheast Asia, Latin America and Africa.
  • CETP activities include collaborative analytical work, technical cooperation, trainingand capacity building and strategic dialogues.

SOURCE: PIB

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