In 2022, Europe provided the world with a comprehensive efficiency blueprint and showed just how powerful a tool energy conservation is. The continent, facing historically high energy prices in the summer due to the war in Ukraine and other factors, burst into action. Heat pump installations, for example, have skyrocketed around the region, and countries like France, with no previous energy efficiency to speak of, have developed robust conservation mechanisms and norms seemingly overnight.
Now, the World Economic Forum is hoping the rest of the planet follows Europe’s 2022 example. In a report released earlier this week, the NGO argued greater energy efficiency would cut emissions and unlock economic development:
“Global energy intensity improved by just over 2% in 2022, but it needs to double to 4% annually by 2030 to meet global efficiency targets, according to International Energy Agency (IEA) data. If achieved, this would result in a 40% increase in economic output per unit of energy used.”
It’s always seemed like a missed opportunity for advocates of energy efficiency and clean energy to not focus on the dual economic/clean air benefits of cutting emissions. It’s good to see the WEF convincingly tie energy efficiency to economic output.