In this high flux and uncertain environment, EMEs could perhaps be better off by stepping up cooperation on all fronts, while recognising multi-polarity. One area of cooperation could be to put in place an institutional mechanism which balances the concerns of both oil exporting and importing countries to ensure stability in energy prices.
EMEs also need to explore alternatives to reduce dependence on conventional energy sources, and give greater focus on renewables and energy efficiency. The International Solar Alliance, with its headquarters in New Delhi, is a vivid example. It seeks to provide a dedicated platform for cooperation among financial and solar resource rich countries so that the global community benefits from the use of solar energy.