Climate change and the energy crisis are reaching critical levels. It is crucial to consider both the energy supply and demand to accelerate the journey to net-zero. This requires a complete overhaul of the entire energy system. The historical record shows that energy transitions are driven by how energy is utilized and consumed. Meaning that the only viable method for achieving such a significant transformation of the energy system is to devise a logical transition for consumers that stimulates rapid adoption, rather than resistance.
The good news? Reaching a net-zero future and achieving a sustainable, low-carbon economy is possible.
Why energy efficiency?
Energy efficiency plays a critical role not only in reducing energy use by improving the efficiency of buildings, appliances, and transportation systems but also in reducing the cost of transitioning to renewable energy sources. In addition, it can help to reduce the environmental impacts associated with energy production and use. Improving energy efficiency ultimately reduces the amount of fossil fuels that need to be extracted, transported, and burned, which can help to reduce greenhouse gas emissions as well as other environmental impacts.
Efforts need to be made to tackle the energy demand side of the equation in order to accelerate progress towards energy efficiency, which is crucial for addressing the urgent climate imperatives and global energy crisis we are facing today.
Across all levels of energy access, the solution is digitization and electrification, what we call “Electricity 4.0”. It represents access to clean, reliable, and affordable energy for those that don’t have it, and a transition to clean energy and efficiency for those that do.
The moment is now
Today’s energy crisis is already bringing higher costs and supply uncertainty. Now is the time for governments and companies to re-think who they are and what they do to ensure future resilience. Efficiency and sustainability represent their passport to operating, thriving, and making an impact. Today and tomorrow.
As a key step forward, the International Energy Agency’s 8th Annual Global Conference on Energy Efficiency will bring together ministers, CEOs, and other senior leaders to have in-depth discussions and exchanges on the practical solutions needed to address these challenges. The conference will take place outside of Paris from 7 to 8 June 2023 and is hosted by French Minister of Energy Transition, Agnès Pannier-Runacher, and IEA Executive Director, Dr. Fatih Birol, in partnership with Schneider Electric.
More details about the event and its agenda can be found on the International Energy Agency’s event page.
If you want to explore other insights and recommendations around electrification, digitization, and energy efficiency, check out the latest finding from our Sustainability Research Institute, below.
