g8%2c g20%2c & opec

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Author: ashwith-bs

Post on 14-Apr-2017




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1973 OIL CRISIS-The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo. The embargo was a response to American involvement in the 1973 Yom Kippur War.In response to this, OAPEC announced an oil embargo against Canada, Japan, the Netherlands, the United Kingdom and the US.By the end of the embargo in March 1974, the price of oil had risen from $3 per barrel to nearly $12 globally.

Due to this oil shock leading industrial countries that are FRANCE, GERMANY, JAPAN, ITALY, UK & US came together to sort out these problems. and thus G6 (group of six ) is formed.In 1976 CANADA joined the group forming G7, and later RUSSIA joined the group in 1997 making it a group of 8.

AND thus the G8 was formed.

The range of topics under consideration include health, law enforcement, labour, economic and social development, energy ,environment, foreign affairs, justice, terrorism, trade, empowerment , nuclear proliferation and climate change.

Let us stick our discussion to energy only..

Energy policies of G8-In 2005 summit, . The G8 states called upon the World Bank to put forward proposals for the increased use of clean forms of energy in developing and emerging countries. The St. Petersburg Summit in 2006 addressed the theme of energy security, and the industrialised nations made an explicit commitment to developing renewable energies.When Germany chaired the G8 at Heiligendamm in June 2007, renewable energies were once again on the agenda. In a joint declaration with the emerging countries Brazil, China, India, Mexico and South Africa, the G8 states affirmed their commitment to promoting energy efficiency and increasing renewable energy use.At the 2008 summit in the Japanese city of Toyako the G8 states and for the first time also the USA agreed to reduce global carbon dioxide emissions by at least 50 per cent by the year 2050.

The G8 states intend to work jointly toward making this long-term target a binding basis for future global climate policy from 2012 onward, involving all the parties to the Framework Convention on Climate Change (UNFCCC).At their summit in L'Aquila in 2009, the G8 partners agreed for the first time on the target of limiting the rise in global temperature to a maximum of two degrees centigrade in relation to pre-industrial levels. One notable success of the Major Economies Forum was that the key emerging countries for the first time also acknowledged the target of two degrees.The G8 reaffirmed and redoubled their commitment to the long-term goal of reducing greenhouse gasses by at least 50 per cent by the year 2050.The G8 states also agreed to set up a working group on energy poverty. This working group is mandated to formulate concrete steps toward reducing energy poverty. the G8 states underlined the importance of access to renewable, local energy sources for securing energy supply and supporting sustainable development in developing countries.

Changes in Energy Intensity (GDP measured in PPP) in G8 Countries from 1990-2007

G20 -The Group of Twenty (also known as the G-20 or G20) is an international forum for the governments and central bank governors from 20 major economies. The members include 19 individual countriesArgentina, Australia, Brazil, Canada, China , France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United Statesalong with the European Union (EU). The Group was founded in 1999 with the aim of studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stabilityThe G20 are responsible for 84 percent fossil fuel emissions worldwide. To support the climate change agenda of 2015, they welcomed the Climate Finance Study Group (CFSG) report, took note of the inventory on climate funds developed by the OECD ( Organisation for Economic Cooperation and Development), and the toolkit developed by the OECD and the GEF (Global Environment Facility) to enhance access to adaptation finance by the low income and developing countries, especially those that are particularly vulnerable to the adverse effects of climate change.

G20 in the path of Energy Sustainability-Advances the implementation of commitments to cut fossil fuel subsidies.

Establishes the goal of transitioning the global economy to renewable energy.

Calls for revenue-raising mechanisms with revenues used for international cli-mate and development finance.

Energy policies of G20 countries under various categories-Renewable energy-

Hydro powerRenewable energy-Hydro powerRenewable energy-Hydro power

Under wind energy

Under solar energy-

Under building, lighting, & appliances-

Under nuclear power-

Fuel economy-

BIO Fuels-