Energy efficiency was prominently featured during the G20 Leaders’ Summit and other associated meetings held in Tokyo, Japan in June 2019. One such meeting, the G20 Global Summit on Financing Energy Efficiency, Innovation, and Clean Technology, convened policymakers, pension fund CEOs, insurance companies, and financiers to discuss the world’s energy efficiency investment gap.

Participants discussed the energy performance of asset investments and how to transition to an affordable, reliable, sustainable and low-emission energy system. The meeting culminated in the issuance of the ‘Tokyo Declaration on Improving the Visibility and Energy Performance of Asset Investments by Financial Institutions,’ which recommends increased transparency regarding the energy performance of banks’ assets; an exemplary role for public financial institutions when considering energy performance in new real estate lending activities; promoting best practices, and tracking commitments made to tag assets’ energy performance; and considering smart enabling infrastructure in cities and the built environment that yield systemic efficiency gains.

The meeting’s outcomes were then communicated to the G20 Ministerial Meeting on Energy Transitions and the Global Environment for Sustainable Growth, which resulted in the adoption of an ‘Energy and Environment Communiqué’ by G20 energy and environment ministers. Ministers pledged to further explore the potential and impact of energy efficiency in heating, cooling, and buildings and encourage policies to scale up investments and financing in energy efficiency across all sectors.