G8 and G20 cite IEA work

28 June 2010

At their summit in Muskoka, Canada, leaders of the Group of 8 countries encouraged “the IEA to develop work on an International Platform for low-carbon technologies, in order to accelerate their development and deployment.” They went on to state that “carbon capture and storage (CCS) can play an important role in transitioning to a low-carbon emitting economy. We welcome the progress already made on our Toyaku commitments to launch the 20 large-scale CCS demonstration projects globally by 2010 and to achieve the broad deployment of CCS by 2020, in co-operation with developing countries.”

The IEA and Carbon Sequestration Leadership Forum (CSLF) – in co-operation with the Global Carbon Capture and Storage Institute – had prepared a progress report on the G8 leaders’ 2008 commitment.

The G20 Toronto Summit Declaration issued on 27 June 2010 noted “with appreciation the report on energy subsidies from the IEA, OPEC, OECD and World Bank” and called for “the rationalization and phase-out over the medium term of inefficient fossil fuel subsidies that encourage wasteful consumption, taking into account vulnerable groups and their development needs”. The leaders encouraged “continued and full implementation of country-specific strategies” and agreed to “continue to review progress towards this commitment at upcoming summits.”

See highlights of the IEA input to the joint Report on Energy Subsidies.