21 Oct (NucNet): The proposed creation of an �all-embracing international energy organisation� has been raised during a meeting of finance ministers of the group of Commonwealth countries by the head of the International Atomic Energy Agency (IAEA).

IAEA director-general Mohamed ElBaradei reiterated a call he made earlier this year for a new global energy body in an article for a publication made available during the ministers� annual meeting held in St Lucia from 6 to 8 October 2008*.

�A number of institutions focus on energy, but none with a mandate that is global and comprehensive and that encompasses all energy forms,� Mr ElBaradei said.

�A global energy organisation would complement, not replace, existing bodies. It would bring an essential intergovernmental perspective to bear on issues which cannot be left to market forces alone, such as the development of new energy technology, the role of nuclear power and renewables, and innovative solutions for reducing pollution and greenhouse gas emissions,� he added.

Such an institution could also provide �authoritative comparative assessments at global, regional and national levels� such as on the long-term impacts of nuclear waste.

Mr ElBaradei said: �Efforts in the 1970s to establish a global energy organisation were unsuccessful. The world has changed dramatically since then and the need for joint action to develop long-term solutions to the current energy crisis is now undeniable.

�It is difficult to see how this can be done without an expert multinational body, underpinned perhaps by a global energy convention, with the authority to develop policies and practices to benefit rich and poor countries alike, equitably and fairly. We need to act before crisis turns into catastrophe.�

During their three-day meeting, Commonwealth finance ministers discussed the impact of food and fuel prices on their respective countries and, in a statement issued at the end of their meeting, said they noted the need to support the agricultural sector to increase food production and to explore new sources of energy supply.

* The Commonwealth is an association of 53 independent states whose head is Britain�s Queen Elizabeth. Mr ElBaradei�s article � �Addressing the global energy crisis� � appears in the �Commonwealth Finance Ministers Reference Report 2008�. The full report can be purchased from the Commonwealth (http://publications.thecommonwealth.org). Mr ElBaradei�s article is available on the IAEA�s web site (http://www.iaea.org).

� by John Shepherd

>>Related reports in the NucNet database (available to subscribers)

IAEA Chief Proposes New �Global Energy Institution� (News No. 60, 28 July 2008)

ElBaradei Will Not Seek Further Term As IAEA Chief (News in Brief No. 107, 15 September 2008)

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