2nd Energy Efficiency Finance and Investment Forum - Global context and policy frameworks

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2nd Energy Efficiency Finance and Investment Forum - Global context and policy frameworks - Presentation Transcript

  1. Session 1: Global context and policy frameworks 2nd energy efficiency finance and investment forum London 1-2 December 2008 Dr Marianne Osterkorn REEEP CEO
  2. Does the financial crisis threaten climate change momentum ? \"We're going to have to grow out of this and have to create growth opportunities for long-term sustainable investment, and this is an area which looks as though it could well grow strongly, and with the right support could be one of the major engines of growth\" Lord Stern of Brentford \"We will establish strong annual targets that set us on a course to reduce emissions to their 1990 levels by 2020 and reduce them by an additional 80% by 2050” \"My presidency will mark a new chapter in America's leadership on climate change that will strengthen our security and create millions of new jobs in the process.\" Barack Obama At the same time, Barroso warned that the financial crisis should not undermine the EU’s priorities on climate change and sustainable development. He asked EU member states for agreement on key climate change goals by December. Manuel Barroso
  3. The rise in energy demand may be slowed down by the current global economic crisis, but will continue nonetheless. China accounts for 15% of world energy demand, with 19% of the world’s population. One half of the global cement production occurs in China as the country leads in new buildings and roads. Source: BP Yearbook, IEA
  4. In 2007 China surpassed the US as the world's largest CO2 emitter Projected annual CO2 emissions in million metric tons However, China’s per capita emissions of 3.7 tons still remain far below the US per capita figure of 19.7 tons. Source: IEA
  5. More than half of emission reductions could be achieved through energy efficiency measures Improved efficiency and de-carbonizing the power sector could bring emissions back to current levels by 2030. Source: IEA WEO 2008
  6. The lost finances could have saved our planet could have financed the reduction of could have financed the reduction of The cost estimates The cost estimates the global GHG emissions the global GHG emissions of the financial of the financial could have financed the insulation of crisis could have financed the insulation of crisis all EU private homes all EU private homes vary from 6000 vary from 6000 could have turned the European to 22 000 billion USD could have turned the European to 22 000 billion USD power and grid into aasmart network power and grid into smart network with exclusively green power with exclusively green power
  7. Energy efficiency allows emission reduction at negative costs Source: Vattenfall
  8. Market forces alone don’t deliver cost effective savings – Supportive policies / incentives are also needed A combination of policy mechanisms – reflecting nations’ varied circumstances & current negotiating positions - this is what the Copenhagen COP15 should aim for. Source: IEA WEO 2008
  9. Example: Impact of building codes on energy efficiency in houses Actual energy consumption in single family houses in Denmark, relative to energy efficiency requirements in building codes Example Denmark: The results of energy certification of more than 200,000 buildings show that implementing building codes would still bring further improvements. Source: IEA
  10. The Obama “New Energy for America” plan underlines the importance of policy-making Target of making America the most energy-efficient country in the world (currently ranked 22nd) Set national building efficiency goals Make all new buildings carbon neutral or zero emissions by 2030 Improving new construction efficiency by 50%, existing building efficiency by 25% Make the U.S. federal government (the world’s largest single consumer of energy) a leader in green building Retrofits to achieve a 40% increase in efficiency of federal buildings within 5 years All new federal buildings zero emissions by 2025 Weatherize one million low-income homes annually More energy-efficient land use and development patterns
  11. REEEP launching of its Energy Efficiency Assessment Report will help to reduce the barriers to energy efficiency Lack of comparable data, standards and information Lack of awareness of potential for savings in each sector Lack of comparable data, standards and information Lack of best practices due to the complexity of energy efficiency matters Emerging economies frequently consider energy efficiency a responsibility of developed countries Discrepancy between political talking and real implementation Responsibility is scattered among governments and varied market players Lack of financial interest because many energy efficiency measures are not asset-based
  12. Tackling the economic crisis and climate change all in one go – turning a problem in an opportunity Unique chance for governments to link financial support and regulations to sustainable investments Economic pressure can motivate companies to target their investments where easy financial wins can be achieved – energy efficiency pays for itself Governmental bail-outs for banks should be combined with obligations for the banks to prioritise sustainable investments Targeting investments into clean energy and energy savings can create new jobs and increase future energy security By using the global awareness of the economic crises, the emerging markets can be attracted to re-target their investments away from energy-intensive applications towards sustainable climate friendly solutions
  13. REEEP International Secretariat Vienna International Centre Room D1732 Vienna, Austria info@reeep.org +43 1 26026 3425 www.reeep.org

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