On 3 October 2018 the Energy Charter Secretariat launched the Energy Investment Risk Assessment (EIRA), its new flagship publication. The launch event took place in Brussels and was opened by European Commission Vice-President for Energy Union Maroš Šefčovič.
EIRA 2018 examines and addresses risks related to unpredictable policy and regulatory change, discrimination between foreign and domestic investors and breach of State obligations. EIRA assists governments in recognising policy and regulatory gaps and, in turn, render their energy sector more conducive to foreign investment. Additionally, it seeks to provide the business community, investors and the financial institutions insight into particular aspects of the policy and regulatory environment in the assessed countries. EIRA 2018 includes 30 countries from three continents: Europe, Africa and Asia.
Energy Charter Secretary-General Dr Urban Rusnák presented the publication and reiterated that EIRA – as a concept – is based on the core values of the Energy Charter Process: building confidence, promoting open markets, and strengthening the rule of law. He emphasised that the EIRA indicators reward countries for taking positive measures for sound regulation and efficient processes. They capture the ability to cope with the risks through various positive measures such as the adoption of predictable policy objectives, transparent decision-making, the establishment of strong public institutions, the development of efficient market oversight mechanisms, and the successful resolution of disputes with foreign investors.
