Energy security is the global priority for 2023
The energy crisis is forcing governments to reconsider their priorities, and climate change has dropped down the list.
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AS NEARLY 200 nations gathered at the COP27 United Nations climate summit in November, Japan announced a little-noticed change that sheds light on what’s going on with global energy and climate change diplomacy behind the scenes. Without fanfare, Tokyo rebranded its state-owned natural resources company, which helps local companies to invest in overseas oil, natural gas and mining projects, as the “Japan Organisation for Metals and Energy Security”.
It may sound like a trivial name change, but it’s an important indication of where the priority lies for many nations, particularly in Asia. Energy security is top of mind.
It matters too that Japan is leading such a focus, because Tokyo will chair the Group of Seven nations in 2023, giving it a powerful pulpit to shape the global agenda. Japan hasn’t yet announced its G7 priorities, but I hear from diplomats in Asia that energy security will be a big one.
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