The Opportunity of Energy Efficiency
Today’s energy system is incredibly inefficient- wasting $4.5 trillion, or almost 5% of global GDP — all before any value is created with energy. Energy efficiency reduces waste, costs, and pollution.
The potential for energy efficiency remains vast and largely untapped — but we are not on track to meet the COP28 outcome’s goal of doubling the global average annual rate of energy efficiency improvements by 2030. The global community achieved only 2 percent efficiency gain last year, and even less improvement is expected this year. Investment in energy efficiency must triple by 2030 to fully implement the “double down” target. To raise the priority of this critical issue, a global coalition of international organizations, civil society, private sector, industry, and finance organizations, anchored by Mission Efficiency, have come together in unified support to champion energy efficiency as a cornerstone of the energy transition. Join RMI CEO Jon Creyts along with CEOs from Global Renewables Alliance and the Business Council for Sustainable Energy (BCSE) to discuss the coalition’s call to action and the urgency of this topic in the Blue Zone at COP29.
Today’s energy system is incredibly inefficient- wasting $4.5 trillion, or almost 5% of global GDP — all before any value is created with energy. Energy efficiency reduces waste, costs, and pollution.
Energy efficiency is critical to make climate action faster, cheaper, more equitable, and more widely beneficial for the planet.
The energy system is being reshaped by the exponential forces of renewables, electrification, and efficiency.