IEA Contributions to the G7 in 2024

For Italy’s Presidency of the G7 in 2024, the IEA produced a wide range of analysis and recommendations that allow the G7 to deliver a strong commitment to the implementation of the COP28 energy outcomes, part of what is known as the UAE Consensus. The IEA advice helps the G7 to design actions in support of global targets on tripling renewable energy capacity, doubling the annual rate of energy efficiency improvement and transitioning away from fossil fuels in the energy systems in a fair and just manner.

The IEA tracked G7 and global progress towards these goals and advised the G7 on deepening the Group’s energy security agenda on critical minerals and natural gas as well as on industrial decarbonisation, energy efficiency and reducing emissions from road transport.

This IEA's policy advice and analysis helped inform governments of leading economies ahead of the G7 Ministers' Meeting on Climate, Energy and Environment in Turin, Italy, on 29-30 April and the G7 Summit in Apulia on 13-15 June. The Italian Presidency requested this work to support discussions among G7 countries and to provide insights and direction for the G7 energy and climate agenda.

As part of its ongoing contributions to the G7's partnerships with developing economies on financing just and inclusive clean energy transitions, in 2024 the IEA supported Italy’s priority on Africa.

At the G7 Summit, world leaders agreed to launch the new Energy for Growth in Africa initiative with several African partners. The IEA is the knowledge partner of the initiative and the UN Development Programme is the implementation agency. The key objectives are to close the investment gap in Africa, which attracts today only 3% of global clean energy investment; to help develop bankable clean energy projects; to attract private capital through the catalytic use of public finance and technical assistance; to encourage the flow of concessional finance; and to overcome barriers to investments in clean energy across Africa.

As agreed in the joint statement, the initiative is supported by Canada, the Republic of Congo, Côte d'Ivoire, Ethiopia, France, Germany, Italy, Japan, Kenya, Mozambique, Nigeria, South Africa, the United Kingdom, the United States of America, and the European Union.

In support the Energy for Growth initiative, the IEA released a report in June, Clean Energy Investment for Development in Africa, that provides an overview of the energy-related investments needed to achieve all African energy and climate-related goals, including universal energy access and its nationally determined contributions, by 2030. It then explores how clean energy projects can best be financed, focusing on three key investment pillars: household access to modern energy; the electricity sector; and emerging industries. Finally, it identifies the main types of initiatives needed to develop human and institutional skills and capabilities across Africa, without which the financing of clean energy will remain a challenge in many countries. 

The IEA contributed analysis across many important areas of the energy and climate agenda of Italy's G7 Presidency ahead of the Ministerial-level meeting in Turin in April. The Agency’s work was highlighted extensively in the communiqué issued by the ministers.

IEA Executive Director Dr Fatih Birol addressed leaders at both the opening and the closing of the meeting. He highlighted the urgent need to implement the energy outcomes from COP28, which provide a global framework for energy transitions – and emphasised that these transitions will only succeed if there is sufficient attention on developing diversified clean energy supply chains. The IEA is working closely with UN Climate Change and launched a new online resource in April 2024 that tracks progress on all of the COP28 energy outcomes.

Italy’s Ministry of Environment and Energy Security requested that the IEA’s 3DEN programme produce a report on the interlinkages between digitalisation, grids and cities to support clean energy transitions. Illustrated by more than 100 case studies and resulting from an engagement with more than 130 experts, this report showcases the leading role that cities can play in implementing faster decarbonisation and energy efficiency gains. 

IEA suggests four specific areas where national policy makers can take action to empower cities towards faster and more effective implementation, namely:

• Placing people at the centre of policy making in order to build for the future.
• Supporting data-driven integrated planning to ensure that grids are fit for purpose. 
• Addressing specific areas of focus to create a supportive environment.
• Pursuing the benefits of fostering strengthened international co-operation.  
  

While working with the Italian Presidency, the IEA continues to deliver on the implementation of the mandates of the Hiroshima Communique during Japan’s G7 Presidency in 2023.

In December 2023, the IEA published a report advising governments on how to address the triple challenges of energy security, climate change and rising geopolitical risks:

In April 2024, expanding upon a report published a year earlier on the integration of variable renewables, the Agency released an analysis of how seasonal variations in both demand and supply affect electricity system operations to 2050 and what sources will be used to manage them:

Also in April 2024, the IEA published a report that offers pragmatic strategies for policymakers to transition away from unabated coal power while maintaining energy security, affordability, and protecting local communities deeply connected to coal production and use:

Finally, on 6 May, the Agency published a report that provides decision makers with an analytical toolkit to design and evaluate their strategies for clean technology manufacturing. Acknowledging that there is no “one size fits all” approach, it lays out guiding principles that can help inform future planning: