As COVID-19 continues to devastate economies around the globe, energy efficiency solutions must be a critical element of countries’ rapid and sustainable recovery.
That’s the key theme in Energy Efficiency Magazine: Special Edition on Energy Efficiency and Economic Recovery, which was released digitally today by the Energy Efficiency Global Alliance (EEGA) – an initiative of the Alliance to Save Energy – and the AOB Group. The magazine features thought pieces from a suite of experts who make the case for leveraging energy efficiency to both jumpstart economies and mitigate the climate crisis and offer pathways to achieve that outcome.
Here are a few teasers:
- Investment needs to be cross-cutting. Energy efficiency isn’t siloed to one sector; therefore, policies must target the efficiency of buildings, industry, equipment and appliances, and vehicles. One magazine chapter homes in on specific strategies for each sector and includes articles from Debby Weyl, Manager for the Buildings Initiative at the World Resources Institute, on the job creation potential of improving building efficiency, and Dan-Hamza Goodacre, Non-Executive Director of the Kigali Cooling Efficiency Program (K-CEP), on why it is important to not lock in systems of inefficient cooling and refrigeration.
- The private sector is ready. Achieving a recovery of this magnitude must involve the private sector. Luckily, many private sector actors understand efficiency’s high return on investment. Helen Clarkson, CEO of the Climate Group, cites EP100 – a corporate commitment campaign of more than 100 companies that have committed to doubling their energy productivity – as a testament to the private sector’s willingness to act on efficiency. And Amal Benaissa, Manager of Sustainable Finance at the Bank of Africa, explains how the Bank has mobilized investment in efficiency with a focus on small and medium enterprises.
- Knowledge-sharing is key. Time is short and there’s no need to reinvent the wheel – especially considering that efficiency’s effectiveness for economic stimulus was already proven by recovery packages following the 2008 recession. Policymakers, corporate executives, and other decisionmakers have much to learn from each other in terms of what works and what doesn’t. To that end, Seamus O’Regan, Canada’s Minister of Natural Resources, explains why Canada recently joined the Three Percent Club, a coalition of countries, supporting companies, and organizations working together to achieve a 3% annual global efficiency improvement. The role of coalitions in catalyzing technology development is also discussed by Karan Mangotra and Manjeet Singh, Associate Director and Associate Fellow at the India-based The Energy Resources Institute (TERI) respectfully.
- We can accomplish extraordinary feats. Investments in efficiency are taking us to previously unimaginable places, from enabling electricity coverage rates to increase across the developing world as detailed by Director of Renewable Energy, Energy Efficiency, and Climate Change Kofi Agyarko of the Ghana Energy Commission, to allowing Bertrand Piccard, Chairman and Initiator of the Solar Impulse Foundation, to fly in the world’s first renewable-powered airplane. Done right, we can not only create jobs and reduce emissions, but can enhance resilience, innovation, and overall quality of life around the world.
The magazine’s authors have articulated efficiency’s return on investment, the sustainable future that could be achieved, and the types of policies needed to get us there. Now it’s time for global leaders in all sectors to act.
View a recording of the launch webinar here: