First conceived by Willy Brandt in 1980, an international body which would be responsible for helping developed and developing nations forge a mutual partnership to promote the use of renewable energy came into existence. The International Renewable Energy Agency or Irena is seen as an ‘institutional counterbalance’ to the International Energy Agency, which, in the eyes of some European leaders, favors use of fossils fuels over renewable energy sources.

Europe is continuously pushing for greater use of renewable energy to achieve its emissions reduction goals and has thrown its weight behind this new agency. However, the United States and Britain have, for the time being, refused to be members of the same.

While the U.S., under the leadership of President Barack Obama, is expected to join the group soon, Britain has shown no interest in joining the international agency any time soon. Britain maintains that it would come on-board once the developing countries like China, India and Brazil join the agency and commit to its energy goals.

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If it seems like the world is rallying around renewable energy, that’s because it is. And why not? With huge recent fluctuations in oil prices, the economy on its knees, and climate change at our doorstep, windmills and solar panels have become iconic symbols of energy independence, a new green-collar job sector, and a response to climate change. Now, an international agency is emerging to lead the charge on a global scale.

The International Renewable Energy Agency (IRENA) will integrate regional clean energy progress into a coordinated, global effort. It will provide political recommendations and identify funding for renewable technologies. Moreover, IRENA will seek to even the playing field for countries that have had difficulty affording investment in renewable energy. To this end, the agency will fund its budget with contributions by member-countries on a sliding scale with unindustrialized countries paying less.

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