World energy and climate leaders have met in Sydney to discuss the best way to accelerate the clean energy transition and scale-up technologies for supply.
Ministers from the US, Australia, Japan, India and Indonesia are some of those speaking at the Sydney Energy Forum, which has been co-hosted by both the Australian Government and the International Energy Agency (IEA).
The supply of minerals, materials and manufacturing capacity for renewable infrastructure is being discussed in detail – as countries agree the best way to achieve net zero is through collaboration.
Governments are cautious that Russia’s invasion of Ukraine could destabilise electric vehicle (EV) production and the rollout of renewables – and are looking to become more energy secure to prevent this.
The IEA has produced a report strictly providing insight into the Indo-Pacific region, which is responsible for the majority of nickel and lithium production – vital in making EVs.
This report urges policymakers to ensure approval times for clean energy projects in the region are shortened; to progress production times and trade.
Fatih Birol, IEA Executive Director, said: “To durably address the challenges we’re facing from today’s global energy crisis, we need an immediate and massive expansion of clean energy technologies to build a resilient and affordable energy system.
“Establishing secure and sustainable supply chains for these technologies is essential, so I’m very pleased that decision-makers from around the world have come together for these discussions led by the Australian Government and the IEA to strengthen international action.”