The International Energy Agency (IEA) is an autonomous international body.
Headquarters (Secretariat): Paris, France.
It was founded in 1974 within the framework of the Organisation for Economic Co-operation and Development (OECD) in the aftermath of the 1973 oil crisis when industrialised countries discovered they were not adequately prepared to deal with the oil embargo imposed by major producers, which drove prices to historically high levels. This entailed establishing a collective action system to effectively respond to anticipated interruptions in the oil supply.
The IEA has 31 member nations, 8 associate countries, and 4 accession countries.
Chile, Colombia, and Israel are the three countries vying for full membership.
Only OECD member states can become members of the organisation. Lithuania became the IEA’s 31st member in 2022.
Mission: To provide member nations and beyond with dependable, affordable, and clean energy.
Areas of Focus: Its mission is inspired by four main areas (4E’s):
1. Energy Security,
2. Economic Development,
3. Environmental Awareness and
4. Engagement Worldwide
Initially, the IEA was focused on responding to physical interruptions in the supply of oil and functioning as a data source for the worldwide oil market and other energy sectors. Over time, the IEA’s mandate has grown to encompass tracking and evaluating worldwide major energy trends, supporting effective energy policy, and fostering international energy technology collaboration.
It is well recognised for publishing the World Energy Outlook every year.
It also publishes Key World Energy Statistics and the Monthly Oil Data Service.
The IEA Clean Coal Centre is devoted to providing unbiased information and analysis on how coal may be transformed into a cleaner energy source that is compatible with the UN Sustainable Development Goals.
Reports:
1. Global Energy & CO2 Status Report
2. World Energy Outlook
3. World Energy Statistics
4. World Energy Balances
5. Energy Technology Perspectives
6. World Energy Investment Report