President-Elect Biden Brings New Approach for Energy Innovation & Climate Action

International Energy Forum (IEF) Secretary General Joseph McMonigle said the incoming administration of President-Elect Joe Biden in the United States will bring a new approach for the U.S. in its environmental and energy policy, particularly in terms of climate change.

"I think it will only add momentum to the recent climate action that we've seen coming from Asia," McMonigle said in response to a question during his recent talk at ADIPEC 2020's virtual meeting. "The truth is the energy transition is inevitable and must be advanced to reduce the climate impact on the planet."

Furthermore, McMonigle said Biden's interest in investing in research and development for energy technology is essential to address climate goals and emissions issues and is hopeful such an approach may gain bipartisan support as it could result in additional jobs and an improved economy.

"The $2 trillion spending goal the Biden campaign set for energy transition is important because it is focused on infrastructure for the energy transition which is a critical and under addressed area to achieve these goals," said McMonigle. "I hope by focusing on infrastructure it can be an area for bipartisan cooperation in the U.S."

A recently released road map for the incoming administration from the Center on Global Energy Policy at Columbia University SIPA encouraged the new president to launch a National Energy Innovation Mission, much like the historic mission to the moon, to spark greater energy innovation. Currently, the U.S. spends about $9 billion on energy research. The proposal suggests earmarking $25 billion annually for research through 2025.

These initiatives conform with the greater focus that governments place on whole-energy-system solutions for inclusive energy transitions to reach both climate and sustainable development goals together. At their recent meeting in September G20 Energy Ministers acknowledged that holistic, integrated, inclusive, and pragmatic approach to managing emissions can be applied reflecting country's priorities and circumstances through the concept of the Circular Carbon Economy Platform (CCE). This encompasses the broad range of pathways and options available and considers different national circumstances, while striving to meet internationally shared global aspirations.

Recognising the importance of accelerating the development and deployment of innovative, scalable, and efficient technologies to advance energy for all by building on members' input and experiences the G20 has invited the IEF to support and advance opportunities related to the CCE including the potential of hydrogen as a clean cross-cutting energy carrier among technologies and to strengthen international collaboration to advance the development, usage and dissemination of CCE technologies.