GLOBAL ENERGY GOVERNANCE THROUGH INTERGOVERNMENTAL ORGANIZATIONS: ANALYSIS OF THE FEASIBILITY OF IMPLEMENTATION

Abstract

This paper analyzes the current factors causing an energy crisis, including depletion of the natural resources, geopolitical tensions, energy security, search for climate stability and absence of universal access to energy. Through the deductive method, the study analyzes if investments are considered as a possible solution to promote sustainable energy. It assesses the current position of intergovernmental organizations linked in some way to the topic of energy, such as the WTO, ECT, G8, G20, IEF, IEA and OPEC, to identify whether the initiatives are being developed and the political will to do so. Some organizations are connected but with limited and insufficient focus. Funding initiatives are below of what is necessary to achieve the goals considered relevant. In the absence of a global governance of energy due to the lack of sufficient cooperation and collaboration of international actors to efficiently mitigate the energy crisis. The challenge is to alter from high to low carbon economy, and the shift from fossil fuels to renewable energy will contribute substantially to this transition. It concludes the necessity of cooperation between organizations such as IRENA and ONU’s programme Sustainable Energy for All, which have the potential to become catalysts for a new trend.