The global pace of progress in energy efficiency must double to limit global warming to 1.5°C

Baku, June 8, AZERTAC

The global pace of progress in energy efficiency must double by 2030 to improve energy security and affordability, while maintaining the goal of limiting global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit), according to the new report from the International Energy Agency, according to the AZERTAC report. Refers to Anadolu Agency.

The report, Energy Efficiency: The Decade of Action, was released as 700 people from more than 80 countries, including more than 30 ministers and 50 CEOs, gathered at the International Energy Agency’s eighth annual global conference in Versailles to discuss how to accelerate energy efficiency improvements. .

Agnes Pannier-Ronatcher, French Minister for Energy Transition, and Fatih Birol, Executive Director of the International Energy Agency, will co-host the event, which is being organized in collaboration with Schneider Electric.

The report shows that the annual progress in energy efficiency reached 2.2% in 2022, double the average for the previous five years. Global energy demand rose 1% last year, but it would have been nearly three times higher without advances in energy efficiency, according to the International Energy Agency.

The pace of progress must exceed 4% annually by 2030 to reduce greenhouse gas emissions and limit global warming to 1.5°C, while creating jobs, expanding access to energy and reducing bills.

Investment in energy efficiency, which is set to reach record levels of $600 billion this year, also needs to triple to $1.8 trillion by 2030.

stated Fatih Birol, Executive Director of the International Energy Agency.

“We now need to accelerate and double progress in energy efficiency by the end of this decade. I believe that this major global conference, which I am delighted to co-host with French Minister Panier Ronacher, can be a vital catalyst to accelerate ambition and action.”

Doubling the pace of global progress in energy efficiency could create 12 million new jobs worldwide and help provide electricity to more than 800 million people worldwide.

“Energy saving and energy efficiency are the simplest and most obvious responses to both the energy and climate crises. They are one of the most important measures for clean energy transitions,” said French Energy Transition Minister Agnes Pannier-Ronacher.

Jean-Pascal Trikoire, President of Schneider Electric, indicated that improving the way energy is consumed is a priority in dealing with the climate and energy crises.

“We have all the ingredients. What we don’t have is time: we simply cannot let more time pass before the power of electrification and energy-saving digital technologies is fully utilized,” Trekoire stressed.

According to the International Energy Agency, which has developed and updated its policy toolkit for governments, policy will play a major role in achieving energy efficiency in the short, medium and long term.

The toolkit consists of two parts, the first with 10 strategic principles for maximizing the impact of all energy efficiency policies, and the second with a set of sectoral packages on efficiency measures.