Global business group releases papers on energy security and efficiency

PARIS, France, August 22, 2007. Fossil fuels will remain a dominant energy source for many decades, but “wind and solar power, biomass energy and other renewable energy sources are likely to grow significantly in importance,” according to the International Chamber of Commerce.

The group’s Commission on Environment & Energy has published two papers which explain how business will play a “crucial role” in energy security and energy efficiency, and the policies that will underpin this process. As global demand for energy continues to grow, improved energy efficiency and international cooperation are vital.

“Business supports energy efficiency and given the right fiscal and regulatory frameworks can do more to help governments achieve the triple objectives of growth, jobs and environmental improvement,” explains the paper on energy efficiency. “ICC members are prepared to share experience and describe the benefits of modern energy management systems in identifying, prioritising and implementing energy efficiency.”

The document recommends that policymakers consider eight options for advancing energy efficiency, many of which involve public-private cooperation. The options include exploitation of the global potential of combined heat, cooling and power production; boosting efforts to transfer innovative technologies; and reviewing building codes. Governments should also develop “clean energy technologies that rely on voluntary initiatives and market-oriented measures” including public funding of research, as well as educating consumers and developing energy service providers.

For energy security, the ICC policy paper noted that “diversity of supply, open markets and political interdependence are essential at a global level, to match the increasingly global functioning of the energy system.” Business has a major role in fostering energy security because it is a major producer, consumer, transporter and distributor of energy.

“Diversification of the energy mix will increase energy security; both geographical and resource diversification are critical for security,” it explains. “To meet growing demand, no technologies or energy sources should be excluded; innovation may provide solutions that overcome barriers that limit the use of some technologies today. Public policy should establish criteria and guidelines for safe and environmentally responsible production and use of energy, and suppliers should innovate and compete to meet requirements in the most effective way.”

“Society needs to keep all energy options open to satisfy growing demand,” it continues. “Because of their advantageous cost, performance, availability and the existence of efficient supply chains in delivery and use, fossil fuels will remain a dominant energy source for many decades, along with nuclear and hydro. At the same time, wind and solar power, biomass energy and other renewable energy sources are likely to grow significantly in importance.”

ICC is a world business organisation that promotes international trade and investment. It was founded in 1919 and groups member companies from 130 countries.

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