A world wide attempt to use the right energy efficiency policies could lead greenhouse gas emissions to peak quickly and then decrease. This could happen even as the global economy doubles between now and 2040, IEA’s Energy Efficiency 2018 report.
Energy Efficiency 2018 analyzes ways to improve global energy efficiency to 2040, concluding that efficiency alone could allow the world to extract twice as much economic value from the energy it uses compared to today.
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This analysis comes as the Intergovernmental Panel on Climate Change (IPCC) is published, reminding that GHG emissions need to peak quickly and then decline for the world to meet Paris Agreement targets.
Energy Efficiency 2018 outlines a global strategy, highlighting what governments can do to gain the economic, social and environmental benefits of enhanced energy efficiency. IEA identifies key actions able to deliver the most positive impact, focusing on a number of sectors, amongst which shipping as well.
Dr. Fatih Birol, the IEA’s Executive Director, emphasized that:
Efficiency can enable economic growth, reduce emissions and improve energy security.
The study also shows that right efficiency policies could deliver a 40% reduction of emissions. This is the amount needed to meet with current climate goals, using the technology we have now.
Improving energy efficiency is more important than ever now, especially because recent policy efforts have weakened, causing fewer new standards and policies for improving efficiency. This has led to the spike in energy demand growth that was reported during 2017.
Finally, the report includes the IEA’s Efficient World Strategy, which identifies efficiency opportunities and describes the policies needed to leverage them.
It also offers a plan to governments to improve their economies and lower their emissions, as well a map to meet key elements of the UN’s Sustainable Development Goals as far as energy is concerned.
