ESMAP Annual Report CY2007-2008

The hallmark of the Energy Sector Management Assistance Program, or ESMAP, is the promotion and support of innovation and forward thinking in the energy sector. In these times, finding new solutions to energy challenges has become even more important. In 2008, oil prices rose to over US$150 a barrel before declining again in anticipation of a global recession. Global climate change has taken center stage on the international agenda, and serious actions are needed to address it. Hundreds of millions of people still do not have access to modern energy services, depriving many of tools they need to work their way out of poverty.

ESMAP’s importance in addressing these issues was recognized during the World Bank Group Sustainable Development Week 2008, at which ESMAP celebrated its twenty-fifth anniversary with the participation of speakers and staff past and present. With standing-room-only sessions on high oil prices, energy security, renewable energy, energy efficiency, biomass energy, and other energy-related topics, the event’s programs highlighted both the problems faced by the energy sector and ESMAP’s many contributions over the past years to analyzing and resolving them.