Practical impact of international energy law and policy
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Regulation of the energy sector is at the fore now, given the crucial role of energy in our everyday life. The sector is essential for every countries’ economic development. Energy law and policy is, therefore, influenced by economics (finance), politics (energy security) and environment (climate change mitigation). Energy law has also become internationally crucial given the increasing level of investment and the establishment of transboundary energy infrastructure such as oil and gas pipelines, oil refineries, and electricity transmission lines, to mention but a few. Additionally, energy investments are expensive ventures requiring large amounts of capital; as such, both host communities and international energy companies are often eager to develop energy laws and policies that favour both parties.
The purpose of this 3-day Masterclass is to introduce our participants to the main drivers behind the formulation of energy policies and energy legislation: and how to ensure that these are effective in tackling some issues that are seen as being pertinent in society. For instance, the twenty-first century is characterised by the need to transition to a low-carbon economy and tackle climate change. Besides the 2015 Paris Agreement, several countries have enacted laws aimed to promote Renewable Energy, Energy Efficiency and the deployment of electric vehicles and energy storage. But when comparing the current drivers behind energy legislation with the drivers a few decades back, it can be seen that energy law is progressive in nature and, as such, legislators and policymakers have to be willing to adjust energy law to meet current societal changes and developments.