More investments in pipelines and electricity lines, as well as in energy production. Greater opportunities for international trade in energy. Working towards access to energy for citizens in emerging and developing countries. International collaboration to further increase the sustainability of energy. These were the main agreements reached today by more than sixty countries during the Ministerial Conference on the International Energy Charter in The Hague. Accor ding to Henk Kamp, Dutch Minister of Economic Affairs (EZ) and conference host, the agreements should lead to increased energy security worldwide, as well as better investment opportunities for businesses.
As Henk Kamp explains, “Until 2035, 48,000 billion dollars in energy investments will be required to meet the global demand for energy. The agreements reached today prove that countries wish to collaborate on an international level in the area of energy. It also offers new opportunities to Dutch entrepreneurs. Dutch companies install 70% of the world's offshore wind farms. The knowledge they have acquired can be put to good use in other countries.”
After the fall of the Berlin Wall in 1991, the Netherlands stood at the cradle of the first European Charter on Energy. This charter has now been updated. The purpose of the first charter was to establish a long-lasting cooperation between the East and West in the area of energy. During the conference in The Hague, participating countries signed a new political declaration on cooperation in the energy sector. This time, it is a global political agreement engaging countries such as China, Iran, Chile and Colombia.
“Energy is more than an economic commodity. More than a billion people currently have no access to electricity, even though this is a crucial factor for job creation and increased development. And demand for electricity is only set to increase in the future. We will only be able to address this challenge if governments and companies work together to produce smarter and more efficient energy supplies.”
Countries that subscribe to the charter are more attractive for companies to do business with. Signing the charter is a first step for countries wishing to join the Energy Charter Treaty. By signing the treaty, investments made by companies in that country enjoy legal protection, reducing the risks for the companies concerned.
Source: www.government.nl