Dozens of nations recently issued a joint statement at an IEA conference in Montreal, agreeing to make energy efficiency a cornerstone of energy policy, and recognising its critical role in building resilience against future energy shocks, improving affordability for consumers and boosting economic competitiveness.
They committed to ensuring that all people can access the benefits of energy efficiency.
Ministers and senior officials from all continents said recent disruptions to global energy markets following the conflict in the Middle East had reinforced the need to accelerate energy efficiency as one of the quickest and most effective ways to lower energy costs, strengthen energy security and reduce exposure to future market volatility, according to an IEA release.
In the statement, governments called for stronger action on energy efficiency, including increased support for vulnerable households and businesses, renewed efforts to improve efficiency in buildings and data centres, and measures to unlock investment without creating unnecessary administrative burdens.
Recognising that vulnerable households and small and medium enterprises (SMEs) are often among those hardest hit by energy price volatility, governments committed to ensuring that all people can access the benefits of energy efficiency.
The countries pledged to look for opportunities to expand policies that can ease immediate pressures while improving resilience over the longer term.
At the conference, the COP31 Presidency announced it is commissioning the IEA to produce a special report to support the development of an energy efficiency target for buildings for COP31, which will take place in Antalya, Turkiye, later this year.
Discussions at the conference drew on new IEA analysis and tools, including an updated Energy Efficiency Policy Toolkit, recent analysis on how to shelter consumers from price shocks and a new report on the multiple ways energy efficiency can benefit businesses.
IEA also continues to track efficiency improvements through its Energy Efficiency Progress Tracker.
Fibre2Fashion News Desk (DS)
