IEA’s G8 Programme – Aiming at a Clean, Clever and Competitive Energy Future
Following up on its participation in G8 events during the past four years, the IEA has been invited by the Italian G8 Presidency to take part in the G8 Environment Ministers meeting in April, the G8 Energy Ministers meeting in May and the G8 Summit in July. See the official Italian G8 web site: http://www.g8italia2009.it for more details.
Attending the G8 Energy Ministers meeting, in Rome from 24-25 May, the IEA presented its analysis on the impact of the financial crisis on global energy investments (read executive summary). The Agency also provided a background paper on climate policy (read report).
At the G8 Environment Ministers’ meeting in Siracusa on 22-24 April 2009, IEA Executive Director Nobuo Tanaka presented a paper on presented a paper to the Ministers on the RD&D and investment needed to ensure that low-carbon technologies become viable, commercial technologies in the future. The IEA presentation emphasised that low-carbon technologies must play a key role in climate change mitigation. See Mr. Tanaka’s remarks, slide presentation and G8 paper.
The IEA G8 programme has identified new strategies for greater energy security and climate protection. IEA points to policies for speeding development and deployment of cleaner, more efficient energy technologies. The IEA has submitted a set of concrete policy recommendations for promoting energy efficiency that could reduce global CO2 emissions by 8.2 gigatonnes by 2030.
The IEA work focuses on: alternative energy scenarios and strategies; energy efficiency in buildings, appliances, transport and industry, including indicators; cleaner fossil fuels; carbon capture and storage; renewable energy; and enhanced international co-operation.
The IEA G8 programme was initiated following the G8 leaders’ request at their 2005 Summit in Gleneagles, Scotland.
Access the IEA Press Release following the G8 Hokkaido meetings.
Executive Summary of IEA suggestions 2008 – to G8 summit
|25 Energy Efficiency Policy Recommendations by IEA to G8- 2008
||No. of Pages: 68
|Download the PDF
||Type of Document: Paper
|The IEA recommends that G8 leaders adopt and urgently implement this package of measures to significantly enhance energy efficiency. This package was developed underthe Gleneagles G8 Plan of Action, which mandates the pursuit of a clean, clever and competitive energy future.
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World Oil Demand Chart from 2009 through July 1 - International Energy Agency
Highlights of the latest OMR
dated: 11 June 2009
Forecast global 2Q09 crude runs are raised 0.2 mb/d to 71.3 mb/d, as a result of higher April preliminary data in OECD countries, reports of high crude runs in China and marginally stronger global demand. But 3Q09 crude runs are forecast at 72.8 mb/d, representing an annual decline of 1.2 mb/d.
The latest free issue of the full OMR
Prime Minister Berlusconi has summed up the first day’s proceedings at the Abruzzo Summit, stressing the agreement reached on fighting climate change, which is to be submitted to the G5 countries during the forthcoming sessions. The other topics on the agenda included the economic crisis and the need for new rules, development and food security.
08/07/2009 A new page entitled “Summit Documents” is now available online in the “Summit” section of the website. This new item on the menu, the first item in the “Summit” section, will contain all of the Declaration and documents from the L’Aquila Summit in Pdf format ready for downloading and printing.
The People Working on Our Behalf at the G8 Summit in L’Aquila, Italy right now – July 8 – 10, 2009
High Resolution Download
Da sinistra: il Presidente giapponese Taro Aso, il Premier canadese Stephen Harper, il Presidente degli Stati Uniti Barack Obama, il Presidente francese Nicolas Sarkozy, il Presidente del Consiglio italiano Silvio Berlusconi, il Presidente russo Dmitry Medvedev, il Cancelliere tedesco Angela Merkel, il Premier del Regno Unito Gordon Brown, il Primo Ministro del Regno di Svezia Fredrik Reinfeldt e il Presidente della Commissione Europea José Manuel Barroso durante la foto di famiglia nel primo giorno del vertice G8 a L’Aquila. SitoG8/ANSA foto: Maurizio Brambatti
Welcome to Italy, and Welcome to Abruzzo
Many of the guests who will be coming to Italy during this year of the Italian G8 duty Presidency are already familiar with the country and its landscapes, its artistic heritage and the wide variety of cultures, dialects and aspects of the various italian regions. Many of them are admirers of the goods produced by italian creativity in sectors ranging from fashion to design and from machinery to traditional agricultural produce and leading-edge technologies. Connoisseurs of italian wine and cuisine, with their extraordinary variety of flavours and aromas, are also legion worldwide.
For several reasons, however, Italy is also a country that faces a large number of hazards due to the forces of nature and the way the land has been managed.
Around 40% of its population lives in highly seismic areas, and Abruzzo, the region that is to host the summit, was struck by a violent earthquake in April. The quake left 300 dead and razed a considerable portion of the architectural heritage of L’Aquila and the surrounding province to the ground.
The italian G8 Presidency decided to move the Summit venue from its original site in Sardinia to L’Aquila, both as a sign of sympathy and support for the people of Abruzzo and to draw the world’s attention, at this time of hardship, to an italian region with a wealth of history, culture and natural beauty.
G-8 leaders have ambitious environmental goals
L’AQUILA, Italy (CNN) — Leaders of the world’s most powerful economies pledged to seek huge cuts in their greenhouse gas emissions at a summit in Italy on Wednesday.
The Group of Eight leaders said they would “join a global response to achieve a 50 percent reduction in global emissions by 2050 and to a goal of an aggregate 80 percent or more reduction by developed countries by that date.”
BBC slide show G8 Summit in photos – 07-08-09 – Amazing.
See below toward bottom of this post for some general info from this site about L’Aquila and the surrounding area – (before the earthquake, April 6).
9 firms to run toxic assets program
Among those selected: BlackRock and Invesco. Program will be kickstarted with $30 billion government investment.
NEW YORK (CNNMoney.com) — The government on Wednesday tapped nine financial firms to manage a scaled-down program aimed at helping the nation’s banks and said it would invest up to $30 billion to get it started.
Among those selected to serve as asset managers of the so-called Public-Private Investment Program were BlackRock (BLK, Fortune 500), AllianceBernstein (AB), Oaktree Capital Management, Invesco (IVZ), Angelo, Gordon & Co., Marathon Asset Management, RLJ Western Asset Management, The TCW Group and Wellington Management Company.
[ . . . ]
“While utilization of legacy asset programs will depend on how actual economic and financial market conditions evolve, the programs are capable of being quickly expanded if these conditions deteriorate,” Treasury Secretary Tim Geithner, Fed Chairman Ben Bernanke and FDIC Chair Sheila Bair said in a statement.
[ Etc. ]
Treasury has said the program is intended to generate a return for private investors and protect taxpayers.
Under the program, banks and other qualified firms looking to rid themselves of assets will sell commercial mortgage-backed securities and certain residential mortgage-backed securities issued before 2009 and originally considered ‘AAA’-rated by two or more recognized agencies.
Each of the nine selected fund managers are required to invest a minimum of $20 million in firm capital in the funds they manage. At the same time, no single investor will be able to own more than a 9.9% stake in the PPIP funds.
It remains to be seen how effective the program will be in helping shore up banks’ finances.
[there's more - but the next little bit says that a "key industry group" has long advocated for the program - gee, wonder who that is? - my note]
First Published: July 8, 2009: 4:31 PM ET
25 charged in $100 million mortgage fraud
(also on CNN – and the news tonight)
L’Aquila History and Region Information site – (not the most current – but very interesting and good information).
Altitude: 714 m a.s.l — Population: ca. 67000 inhabitants — Zip code: 67100 — Phone Area Code: 0862
province of L’Aquila, Abruzzo, Italy
L’Aquila (surface area 466,96 kmq, about 67,000 inhabitants on the whole territory of the Commune, about 45,000 only the town and suburbs), the capital town of Abruzzi and of the Province of L’Aquila, is situated on the left bank of the Aterno River, at an elevation of 2,150 feet (655 meters), in a valley surrounded by the highest mountains of the Appennines, the Gran Sasso and the Velino-Sirente, 58 miles (93 km) northeast of Rome. For its geographical position in the middle of high mountains the city has long, cold winters and abundant rainfall throughout the year, even if autumn is the wettest season. L’Aquila is the main historical and artistic centre of Abruzzi, has an archbishopry and is renowned for its University, Musical Conservatory, Arts Academy, Theatre and Concert Society, National Museum of the Abruzzi and the ancient Salvatore Tommasi library.Formerly a center for handicraft and agriculture, L’Aquila has nowadays become primarily an administrative center for its large province and partly for the region (regional bodies are divided between L’Aquila and Pescara). The economy of the town is characterized by chemical, mechanical and farming industries, the production of wine, cereals, saffron and dairy products, traditional delicatessen and craftswork; the nearby mountains also offer facilities for winter sports and excursions.
(more info on history and sites in the region found on this page – I don’t think it is the official site but it is a good one.)