International Energy Forum hosts 5th IEF-EU Energy and Climate Day
RIYADH, SAUDI ARABIA: The International Energy Forum and the European Union met for the 5th IEF-EU Energy and Climate Day on Thursday to discuss pathways towards a sustainable and inclusive global energy economy.
The Secretary General of the International Energy Forum, H.E. Joseph McMonigle and the Ambassador of the European Union to Saudi Arabia, Bahrain, and Oman, H.E. Patrick Simonnet, invited policy makers from the European Commission and European Union member states alongside energy ministers and industry representatives from around the world to strengthen engagement on their shared goals of energy security, affordable energy access and climate goals.
"International policy and market developments in the wake of the COVID-19 pandemic create new opportunities for collaboration to achieve development and climate goals," said Mr McMonigle.
"A recovery from the pandemic and a return towards sustainable and inclusive economic growth requires a new energy and climate solidarity among energy producers and consumers. Decisions made over the next years on open and interconnected energy markets must accelerate orderly and inclusive transitions to achieve affordable energy access and climate goals in the interest of all," he added.
The virtual event was held after the European Union stepped up its ambition to reach net-zero carbon emissions by 2050, and the United States re-joined the Paris Climate Agreement.
"The COVID-19 crisis has brought to the fore the need to engage our economies on a more sustainable pathway and to advance energy transitions, economic diversification and climate policies. Those were some of the important topics that Saudi Arabia took up last year, as Chair of the G20, and they are more relevant than ever for the whole region," said Ambassador Simonnet.
Government participants including HRH Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, Saudi Arabia; H.E. Frans Timmermans, Executive Vice-President for the European Green Deal, European Commission; H.E. Tinne Van der Straeten, Minister of Energy, Belgium and H.E. Tarek El-Molla, Minister of Petroleum and Mineral Resources, Egypt offered perspectives on energy and climate post-pandemic.
There was also a round-table discussion among industry leaders offering perspectives on energy, climate and the transition moderated by Dr. Leila Benali, former Chief Economist and Head of Strategy, Arab Petroleum Investment Corporation (APICORP). The panel included Mr Seifi Ghasemi, President and Chief Executive Officer, Air Products; Mr Paddy Padmanathan, President and CEO, ACWA Power; Dr Noé van Hulst, Chair of the International Partnership for Hydrogen and Fuel Cells in the Economy; Mr Adam Sieminski, President, King Abdullah Petroleum Studies and Research Centre; Dr Adnan Shihab-Eldin, Director General, Kuwait Foundation for the Advancement of Sciences; Mr Agustin Delgado, Head of Innovation, Energy Policy & Quality, Iberdrola; and Mr Frank Wouters, Director, EU GCC Clean Technology Network.
Participants made reference to recent developments in the Middle East and North Africa region, which continues to set global price records in the deployment of renewable energy to diversify domestic sources of supply. This is expected to improve regional energy trade and strengthen energy security and sustainability.
Delegates noted that the endorsement by the G20 of the Circular Carbon Economy in 2020 creates consensus among the world's largest energy producers and consumers of the need to scale up investment in new holistic approaches to carbon management. These range from carbon capture, use and storage to hydrogen and direct air capture and move beyond renewable technologies alone.
Media contact
Tom Ashby, Head of Global Communications
Thomas.ashby@ief.org
About the International Energy Forum
The International Energy Forum is the leading global facilitator of dialogue between sovereign energy market participants. It incorporates members of International Energy Agency and the Organization of the Petroleum Exporting Countries, and also key players including China, India, Russia and South Africa. The forum's biennial ministerial meetings are the world's largest gathering of energy ministers, where discussions focus on global energy security and the transition towards an inclusive and sustainable energy future. For more information visit www.ief.org.
