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IEA Slams 'Epic Failure' of Global Energy Efficiency Policy

Nov 12, 2012
(BusinessGreen)

Energy efficiency could halve predicted growth in global energy demand, securing extra time for governments to forge an effective international climate change deal, according to a major new report from the International Energy Agency (IEA) that today warns climate change is again slipping down the political agenda.

The Paris-based organization's World Energy Outlook (WEO) report highlights successful policies to cut energy consumption in the US, EU and Japan, but cautions even with these and other new regulations in place two-thirds of the economically viable energy efficiency improvements will remain unrealized through to 2035.

Investment of $11.8tr in energy efficiency technologies would be more than offset by an $18tr boost to the world economy by 2035, the report calculates, with especially large gains available in India, China, the US, and Europe.