Discuss global energy governance.

1 Current State of Global Energy Governance 1.1 The United States Remains Dominant The U.S. is the world’s largest producer of oil and natural gas, the second-largest exporter, and boasts a massive energy consumption market, strong technological advantages in energy, and serves as both the global hub for oil and gas trade and finance. As a country with no weaknesses across the entire energy value chain, its energy policies—and shifts therein—exert significant influence worldwide. For instance, during the Trump 2.0 era, comprehensive deregulation to boost domestic fossil fuel production, coupled with demands that the EU and others increase imports of U.S. oil and gas, is driving realignment in the global energy power structure. The U.S.’s re-withdrawal from the Paris Agreement and suspension of international climate finance commitments further impede global climate governance progress and erode confidence. The U.S. has established a multi-tiered energy data reporting system. Among these, the U.S. Energy Information Administration (EIA) provides systematic reports—including energy market analysis and forecasts, financial analyses of energy companies, and greenhouse gas (GHG) emissions data—that shape global expectations. The Department of Energy publishes research reports supporting government policy; for example, its report titled “A Critical Assessment of the Impacts of Greenhouse Gas Emissions on U.S. Climate” denies climate change, thereby providing intellectual grounding for U.S. energy policy reversals. Moreover, the U.S. has pressured the International Energy Agency (IEA) to revise its Energy Outlook reports—curbing overemphasis on green transitions—and threatened to withdraw from the IEA unless it undertakes institutional reform. After Trump’s return to office, the administration signed the “Big and Beautiful” Act, terminating green-energy subsidy programs and tightening permitting for renewable energy projects—causing a sharp decline in U.S. clean energy investment and market stagnation. According to the latest statistics released by E2, a U.S. clean energy industry analysis firm, as of September 2025, clean energy investment in the U.S. had contracted by over USD 24 billion, and approximately 21,000 jobs were lost. The Department of Energy was also restructured, elevating petroleum and nuclear energy resources to top priority—replacing departments focused on renewables and energy efficiency. The U.S. places high importance on cultivating and attracting energy talent: it fosters university–industry “Energy Talent Alliances” to ensure internships and employment pathways; and it has introduced targeted visa reforms, establishing fast-track channels to attract highly skilled energy professionals globally. 1.2 The EU Enters an Energy Governance Crisis Amid the Ukraine Conflict In response to the Ukraine crisis, the EU launched the REPowerEU Plan, revised its Renewable Energy Directive, and introduced the Clean Industrial Package, accelerating renewable energy deployment and reducing dependence on single-country energy supplies. Simultaneously, the EU implemented its Carbon Border Adjustment Mechanism (CBAM), imposing carbon tariffs on imported goods such as steel and cement—effectively exporting its carbon pricing rules globally. The EU is building a comprehensive, cross-sectoral energy data reporting system. The European Commission regularly publishes data reports on the European energy market and prices—including the “Quarterly Report on the European Gas Market” and the “Oil Bulletin”—systematically supplying key market data that serves as critical reference for global energy governance. Following the Ukraine crisis, the EU accelerated clean energy development: in 2024, 71% of its electricity came from non-fossil sources—well above the global average of 41%. Photovoltaic generation surpassed coal-fired generation for the first time, positioning the EU as a global leader in green transition. The EU emphasizes collaborative talent development—for example, the European Commission launched the Youth Energy Ambassadors initiative to broaden youth participation in energy policymaking, and leverages the “EIT InnoEnergy” master’s program to cultivate the next generation of energy leaders—building a talent supply chain underpinning the energy transition.

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France’s Engie to Deploy Bitcoin Mining at Brazilian Solar Plant Recently, French state-owned energy company Engie is considering installing bitcoin mining rigs at its new solar power plant in Brazil. This move aims to monetize otherwise wasted surplus energy, thereby enhancing the plant’s profitability. Engie noted, however, that while bitcoin mining offers certain economic benefits, it is not a short-term solution. (Source: Reuters) 08 Slovakia Halts Emergency Electricity Supplies to Ukraine On February 23, Slovak Prime Minister Robert Fico announced on social media that he had instructed Slovakia’s national electricity transmission system operator to suspend emergency electricity supplies to Ukraine. Fico stated that, effective immediately, any Ukrainian request for assistance in stabilizing its power grid would receive no support from Slovakia. (Source: CCTV News) 09 Lamborghini Abandons Plans for Its First All-Electric Supercar Recently, Lamborghini’s CEO stated that consumers have yet to establish an “emotional connection” with electric vehicles—prompting the brand to shift focus toward hybrid models. Lamborghini has scrapped its long-planned Lanzador electric vehicle (first unveiled as a concept car in 2023) and will not proceed with mass production. Instead, it will prioritize plug-in hybrid electric vehicles to address weak demand among its core luxury-car buyers. Lamborghini now views plug-in hybrids as the optimal bridge between regulatory compliance and brand identity. The group has already electrified its existing model lineup—including the Revuelto, Urus, and Temerario—all featuring hybrid technology. (Source: European News) 10 U.S. Energy Secretary Criticizes IEA’s Net-Zero Agenda Recently, U.S. Energy Secretary Chris Wright stated that the International Energy Agency (IEA) should refocus on energy security and abandon its net-zero emissions agenda. He warned that if the IEA continues pursuing its climate agenda targeting carbon neutrality by 2050, the U.S. may consider withdrawing from the agency. Secretary Wright made these remarks just days after the U.S. repealed its foundational federal climate regulation—which had exempted automakers from costly tailpipe emission standards—a further step in the Trump administration’s ongoing dismantling of environmental laws. Yet EU leaders continue to back the IEA, calling it a “trusted pillar” of the global energy community. According to insiders, one European energy minister remarked: “This also helps us do something fundamental: counteract one of the greatest risks of our time—misinformation. Therefore, we need the rigorous analytical work provided by this agency more than ever.” (Source: European News) 11 India Launches Review of Regulatory Framework for ESG Rating Providers Recently, the Securities and Exchange Board of India (SEBI) announced the formation of a new working group tasked with reviewing the regulatory framework governing ESG rating agencies. This review follows SEBI’s 2021 issuance of the “Master Circular on ESG Rating Agencies,” which effectively brought ESG rating agencies under SEBI’s regulatory framework for credit rating agencies.

US Energy Secretary Warns of Leaving IEA Unless Reformed on Climate Issues

11 hours ago

US Energy Secretary Chris Wright stated the US might leave the International Energy Agency if it does not reform its focus away from climate issues toward traditional energy sources.

reuters

2026-09-23

US Energy Secretary Warns of Leaving IEA Unless Reformed on Climate Issues

US Energy Secretary Warns of Leaving IEA Unless Reformed on Climate Issues

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