IEA Report: Doubling Global Pace of Energy Efficiency Progress by 2030 is Key to Reach Net Zero

The International Energy Agency (IEA) is holding its 8th Annual Global Conference on Energy Efficiency in France, which is attended by ministers and CEOs from over 80 countries to discuss how to accelerate progress on energy efficiency. The IEA’s report reveals a need to double the rate of progress on efficiency by 2030 to meet global energy and climate goals while enhancing energy security and affordability. The report demonstrates that a yearly efficiency progress increase from 2.2% to over 4% by 2030 would lead to a reduction in greenhouse gas emissions, job creation, expanded energy access, decreased energy bills, air pollution reduction and decreased reliance on fossil fuel imports. Investment in energy efficiency is predicted to hit a record high in 2023, but to double annual progress, funding must rise from USD 600 billion to over USD 1.8 trillion by 2030. The IEA has developed a policy toolkit for governments to support greater action on efficiency.



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