Global governance

ICC promotes business-government collaboration at G8 energy ministers meeting

  • 5 June 2008

World business stands ready to work closely with governments to find comprehensive and viable solutions for rising energy prices and demand for energy, ICC said in a letter to energy ministers who will be attending a G8 meeting in Aomori, Japan from 7 to 8 June.

“ICC calls on these governments to address the challenge of meeting the world’s growing demand for energy, while also addressing long-term concerns about greenhouse gas emissions and enhancing environmental protection,” ICC Secretary General Guy Sebban said in the letter.

Current high oil prices are causing widespread discontent, contributing to high inflation, and denting economic growth worldwide. World energy demand is expected to be 50% higher in 2030 than it is today, the International Energy Agency said in its 2007 World Energy Outlook.

And as global demand for energy increases, it is critical for business and policymakers to work together to meet the 21st century’s growing energy needs, ICC said.

Fundamental to economic growth and sustainable development is access to an energy supply that is reliable, affordable, economically viable, socially acceptable and environmentally sound.

In the letter, ICC commended the inclusion of energy ministers from developing countries at the Aomori meeting, citing energy as the engine of growth in the emerging world.

Through its Commission on Environment and Energy, ICC has provided energy policymakers with recommendations on a range of important issues, including energy security, energy efficiency, promoting innovation and technology development, environmental policies, and how to address social conditions and aspirations.

ICC has a longstanding relationship with the G8 and provides a statement on a range of critical issues to world business in advance of each annual G8 Summit. G8 heads of state and government will meet in Hokkaido Toyako, Japan this year from 7 to 9 July.