The Inaugural EBC meeting was held in Paris IEA Headquarter on 10 March 2009, attended by IEA senior officials and about 25 companies’ executives.
Companies and organisations attending the Inaugural EBC meeting included: Acciona, Alstom, Beijing Energy Club, Enel, GDF SUEZ, Iberdrola, Institute for 21st Century Energy - US Chamber of Commerce, International Aluminium Institute, Lafarge, Michelin, Nippon Steel, OMV, Schlumberger, Sharp, Shell, Siemens, Statoil, TEPCO, Toshiba, Vattenfall AB, Vestas, WBCSD, World Steel Association.
The half day meeting, followed by an evening reception, was structured around main findings of the IEA World Energy Outlook 2008, in order to assess impact of financial crisis on energy markets and share views on climate change and other pressing energy issues.
WEO 2008 stated how investments across the energy sector are fundamental for keeping the pace with demand growth as well as for offsetting decline rates in current production. In addition, massive amounts of investments are needed to develop new energy technologies to meet climate change objectives. The meeting was gathered at a time when extreme price volatility, uncertainty about future government policies especially in relation to climate change, and global financial crisis have been raising concerns on the concrete implementation of the investments needed, most of which are realised by the private sector.
EBC participants addressed during the meeting key topics such as:
- Update on global energy markets: focus on oil markets and climate change scenarios;
- Preparation for COP 15 and G8: the EBC provided advices to IEA for its input works to UNFCCC COP 15 and G8 Meetings;
- Input to World Energy Outlook 2009: The EBC provided inputs towards the World Energy Outlook 2009, including the two major themes of WEO 2009: the outlook for global gas markets and scenarios of climate-change policy.
The inaugural EBC meeting produced tangible results and useful inputs, such as helping to shape the IEA’s report to G8 Summit in L'Aquila on the impact of the financial and economic crisis on global energy investment.
See the IEA report