A global energy efficiency drive could single-handedly deliver a sustained fall in greenhouse gas emissions even as the world’s economy doubles between now and 2040. That is uplifting scenario outlined by the International Energy Agency (IEA) in a major new report this month, which calculates that cost-effective energy efficiency measures could slash consumer bills to the tune of $500bn a year. But there is a major and familiar barrier to this scenario being realised. It rests on global governments rapidly deploying effective energy efficiency policies across buildings and road transport, and currently global policy action is in fact weakening, according to the agency’ report. The paper, released last week, examines the opportunities for improving global energy efficiency through to 2040 and concludes that energy efficiency gains alone could allow the world to extract twice as much economic value from the energy it uses compared to today.
Business Green 24th Oct 2018 read more »