The British Institute of Energy Economics (BIEE) has awarded a prize for the greatest contribution to British energy economics over the last ten years, marking both its thirtieth anniversary and its tenth academic conference, both happening in 2014. A Prize Committee of energy economists from academia, government and industry received nominations in May.
Members of the BIEE were invited to nominate the individual whom they believe has made the greatest contribution to British energy economics over the past ten years. In the Nomination Form proposers were asked to provide a brief explanation and evidence of the contribution that their nominee has made to the development of British energy economics and policy or to wider energy policy debates:
• the research, applied analysis or other evidence of the nominee’s contribution quality
• the way in which the nominee achieved impacts or other benefits from his/her contribution
• the nature and extent of the impacts or other benefit
The committee was unanimous in recommending that Professor Lord Stern of Brentford should receive the prize. His 2006 Review of the Economics of Climate Change has been the most influential single piece of energy economics published over the last decade, and had important implications for government policy and company strategies. The report is also firmly grounded in the academic literature and has provoked further research into the questions it addresses. Since the publication of his report, Lord Stern has been a very active advocate of the necessity to take action on climate change.
Receiving the award Lord Stern, who is Chair of the Grantham Research Institute on Climate Change and the Environment at LSE, said “It’s a tremendous honour to be given this award by the British Institute of Energy Economics. The Institute has played a leading role in public discussion of issues around energy and the economics of energy for a very long time. Indeed I think it has defined in many ways what a serious discussion on those issues should be’. Dr Robert Gross, Chair of the BIEE, said
In his acceptance speech Lord Stern made a number of points relating to the energy trilemma’, the competing objectives of energy security, sustainability and affordability which is the theme of the BIEE’s forthcoming energy policy conference on September 17/18. He challenged the assumption that this was always about trade-offs, citing energy efficiency as an example that can help on all three, ‘If we just talk about frontiers and trade-offs we risk overlooking the fundamental dynamism of innovation and discovery which has driven energy across the years’
You can see the video of Lord Stern’s acceptance speech here