International Energy Agency

Vahe Davtyan

Chapter 77 in Elgar Encyclopedia of Energy Economics, 2025, pp 294-296 from Edward Elgar Publishing

Abstract: The International Energy Agency (IEA) is an autonomous organization established in response to the 1973–1974 oil crisis, aiming to ensure reliable, affordable and clean energy for its 31 member countries, all part of the OECD. The IEA's focus areas include energy security, economic development, environmental awareness and global engagement. The agency coordinates emergency responses to oil supply disruptions and promotes energy efficiency, alternative energy development and climate change mitigation. Despite its successes, such as managing strategic oil reserves and influencing global energy policies, the IEA faces criticism for potentially politicized and overly optimistic forecasts. The agency's recent actions include releasing strategic reserves during crises and setting ambitious targets for green energy to achieve net-zero emissions by 2050.

Keywords: International Energy Agency (IEA); Energy Security; Green Energy; Oil Crisis; Climate Change Mitigation (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035310364
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