2. 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.
3. • 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..
4. 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.
5. • 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.
6.
7.
8. Changes in Energy Intensity (GDP measured in PPP) in G8
Countries from 1990-2007
9. 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 countries—Argentina,
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 States—along 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 stability
• The 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.
10. 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.
11. Energy policies of G20 countries under various
categories-
Renewable energy-
Hydro
power
Renewable energy-
Hydro
power
Renewable energy-
Hydro
power
