To get back on course, world must deliver the efficiency goal

(Source: Sustainable Energy for All)

Baku, Azerbaijan, November 14, 2024 – The world is off track in reaching the global goal to double energy efficiency by 2030 that was adopted at COP 28 in Dubai. A coalition of countries, businesses and organizations is urging world leaders at COP 29 in Baku to commit to actionable measures to unlock the energy efficiency investment that is crucial to meeting climate targets.

To stay aligned with collective climate goals, investment in energy efficiency must triple by 2030 and primary energy intensity needs to improve from 1% to 4%. Global investment in new renewable energy generation is nearly double that of investment in energy efficiency, despite efficiency’s crucial role in reducing energy demand. In fact, efficiency improvements in 2022 reduced energy use equal to 3x the amount of solar and wind capacity brought online.

While efforts to incorporate renewable energy goals into individual nations’ nationally-determined contributions (NDCs) should be applauded, energy efficiency seems to have been left out entirely. This is an immeasurable missed opportunity.