Why we need to follow the soft energy path of greater efficiency

The author contends that energy efficiency is the most cost-effective lever for emissions reductions but has been neglected in the lead-up to COP29 despite a global agreement to double efficiency rates to over 4% annually by 2030. The text highlights that efficiency could provide nearly half of the emissions reductions needed by 2030 for Paris goals and offers significant economic savings, particularly in emerging markets like India.

• Energy efficiency is described as the most significant and affordable tool for reducing emissions and meeting energy demand equitably. According to the International Energy Agency (IEA), it could provide nearly 50% of the emissions reductions required by 2030 to align with the Paris goals of reaching net zero by 2050.
• World leaders previously committed to doubling the global annual rate of energy efficiency from approximately 2% to over 4% by 2030, yet the author claims there has been minimal progress or discussion on this goal, and it is not a priority for COP29.
• Implementing an expanded global energy efficiency campaign could result in annual savings of up to $2 trillion and reduce global energy costs by 20–25%. This follows 2022 data showing that efficiency measures in several countries saved about 15% of their total energy bills.
• Energy efficiency is especially critical for emerging market countries to reduce the cost of long-lived assets and the scale of required infrastructure. In India, efficient building design and construction could reduce projected building energy demand by 25% by 2050 and decrease emissions-intensive materials by 45% as floor area is expected to double before 2040.

APA

Creyts, J. (2024). Why we need to follow the soft energy path of greater efficiency. World Economic Forum. https://www.weforum.org/stories/energy-transition/why-we-need-to-follow-the-soft-energy-path-of-greater-efficiency/

Chicago

Creyts, Jon. Why we need to follow the soft energy path of greater efficiency. World Economic Forum, 2024. https://www.weforum.org/stories/energy-transition/why-we-need-to-follow-the-soft-energy-path-of-greater-efficiency/.

Wikipedia

{{cite press release |last1=Creyts |first1=Jon |title=Why we need to follow the soft energy path of greater efficiency |publisher=World Economic Forum |date=14 November 2024 |url=https://www.weforum.org/stories/energy-transition/why-we-need-to-follow-the-soft-energy-path-of-greater-efficiency/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{creyts2024why, author = {Creyts, Jon}, title = {{Why we need to follow the soft energy path of greater efficiency}}, publisher = {World Economic Forum}, year = {2024}, month = nov, url = {https://www.weforum.org/stories/energy-transition/why-we-need-to-follow-the-soft-energy-path-of-greater-efficiency/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }