Given the critical importance of today’s decision making on future energy security and sustainability, IRGC and Oliver Wyman are developing a project to help improve the risk governance of energy security. Through the development of a "risk-based decision framework", the project aims to improve the quality of energy security decisions. The specific objectives of the project are to :
• Understand diverging stakeholder interests in managing the major energy security risks and challenges ;
• Identify main gaps in the current governmental and private decision making processes ; and
• Set the basis for an innovative risk-based decision making process to improve the management of risks and support management decisions in the energy sector.
Focusing on long-term policy, investment and partnership decisions, the project will also address a shorter term where technology and demand developments are less uncertain.
Using experience gained in the governance of complex risk issues, IRGC has developed a comprehensive approach to help understand, analyse and manage important risk issues for which there are deficits in risk governance structures and processes. This approach can encourage decision makers to understand the various interests, concerns and intentions behind decisions, so as to better manage the tradeoffs involved in the decision-making. It gives guidance, even in situations of knowledge deficit, high complexity, or uncertainty. The approach will be used in this project work.
The project is conducted in four successive phases involving Switzerland, China, the United Arab Emirates and North America.
An expert meeting on energy security in Switzerland is scheduled to take place in Zurich, in late October 2008.
For more information please contact : alexandre.sabbag@irgc.org