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IRENA, the International Renewable EnergyAgency, was specifically created to aid thefinance and development of renewable energyprojects worldwide.IRENA includes developing countries and involves them inthe climate change negotiation process. Currently, 136countries have joined IRENA by signing the Agency’sstatute, but notably missing from the membership areIndia and China. There have been positive responses fromdeveloping and emerging economies and there has beena real demand for an international renewable energyagency. The first session and founding meeting of IRENA’sPreparatory Commission was held in Bonn, Germany atthe end of January 2009. During the second session latelast month in Sharm El Sheikh, Egypt, the PreparatoryCommission named Abu Dhabi as the interim hostlocation of the agency’s headquarters and the Commissionnamed Hélène Pelosse of France as the interimDirector-General. The US, a major international renewableenergy player, only joined IRENA recently at this lastsession in June.ConclusionsThe United States and China will have the mostimpact on the global renewable energy marketin coming years. These two countries must leadby example in renewable energy development,investment, and financing. The United Statesappears to be on the right track with a largeportion of the American Recovery andReinvestment Act slated to go to renewableenergy and energy efficiency projects andresearch. President Obama and his newadministration have prioritized energy andenvironmental issues, and now the world waitsto see what action is taken. China has aresponsibility to develop its renewable energyresources instead of relying on petroleum to fuelits vehicles, and coal to produce its electricity.The rest of the world will look to both countriesto bring the future of renewable energy.Session ReferencesB1 - Global Renewable Energy IndustryMichael Eckhart, President, American Council On Renewable Energy (ACORE) (Chair)David Wortmann, Director Renewable Energy & Resources, Germany Trade & Invest [slides]Suresh Hurry, Director, IT Power [slides]Ernesto Macias Galan, President, European Photovoltaic Industry Association [slides]Juergen Morhard, Counselor, Head of the Economic and Commercial Section, German Embassy Washington [slides]Fredrick Potter, Executive Vice President, Hart Energy ConsultingTammy Klein, Executive Director, Global Biofuels, Hart Energy Consulting [slides]D6 - International Markets & PolicyPeter Richards, Communications Director, REEEP (Chair) [slides]Mike Rosenfeld, Vice Consul, UK Trade & Investment [slides]Craig O’Connor, Director, Environmental Exports, Export-Import Bank of the U.S. [slides]David Fulton, Advisor & Director of Business Liaison, The World Bank [slides]Lynn Tabernacki, Senior Manager, Renewable Energy and Sustainable Development Finance, OPIC [slides]American Council On Renewable EnergyExecutive Summary Report 42