This blog was written by EEGA Steering Committee member Sheila Watson, Executive Director of FIA Foundation. FIA Foundation supports an international programme of activities promoting...
EE Global Alliance – Stimulus and Recovery Resource Hub
Energy efficiency’s role in global economic stimulus and recovery efforts
The EE Global Alliance
Uniting the voice of energy efficiency to facilitate broader and deeper implementation of EE solutions.
Why energy efficiency?
Energy efficiency is the most impactful solution for mitigating climate change while meeting development goals and growing the global economy.
Our Vision
A world that acts upon energy efficiency as the most impactful solution for mitigating climate while meeting Sustainable Development Goals and growing the global economy.
Our Mission
To create a global energy efficiency (EE) coalition to:
- Drive faster, broader implementation of EE;
- Champion the world’s highest impact EE initiatives;
- Embed EE into global energy and climate discussions;
- Accelerate enabling policy solutions and investment.
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A Proven Solution
There is wide recognition that we cannot achieve global climate goals without significantly scaling up energy efficiency. The IEA estimates that energy efficiency could provide more than 40% of the emissions abatement required by 2040 to be in line with the Paris Agreement (IEA, 2018).
The IEA found that energy use in the world’s largest economies would have increased by 32% in 2017 had no improvements in energy efficiency occurred (IEA, 2018).
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And A Wise Investment
Based on energy savings alone, investment in energy efficiency pays back on average by a factor of three (IEA, 2018). If the world employed all known energy efficiency technologies and policies, families would save USD 550 billion in energy costs.
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That’s Critically Underutilized
But despite its merits, energy efficiency implementation and investment is lagging badly. The percentage of global energy use covered by mandatory energy efficiency policies and regulations grew by only 2% between 2016 and 2017, despite a net increase in global energy demand (IEA 2018).
To stem climate change, annual investment in energy efficiency needs to double between now and 2025, and then double again after 2025 (IEA 2018).
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