#As a consequence of the economic impact of the #Covid-19 crisis, the already slow pace of global improvement in energy efficiency (the ability to do the same, or more, using less energy) will slow further this year. year, increasing the difficulties in achieving international energy and climate targets.
#Specifically, a report published this #December ( #Energy efficiency 2020 ) predicts that the intensity of the world’s primary energy (an indicator that reports how much energy the world uses to increase its GDP) will decline by less than 1% in 2020. A figure that constitutes the lowest rate since 2010 and that it falls well below the level of improvement necessary to achieve the objectives set internationally to successfully tackle the fight against climate change, reduce local air pollution and increase access to energy for the world’s population.
#Investment in efficiency worldwide will fall by around 9% in 2020
#This disappointing trend reflects the effects of the economic crisis linked to the pandemic, which has resulted in a decline in investment in energy efficient buildings, equipment and vehicles. #Purchases of new cars, more efficient than older models, have slowed, while there has also been a slowdown in the construction of new homes and other more efficient buildings. #On the other hand, in the case of industry and commercial buildings, lower energy prices have extended payback periods for some key efficiency improvement actions by up to 40%, reducing their appeal compared to other investments. #Overall, according to the aforementioned report, investment in energy efficiency around the world is on track to fall by around 9% this year.
#Something worrying if we consider that, along with renewable energy, energy efficiency is one of the pillars of global efforts to achieve climate goals. #Over the next two decades, efficiency improvements would have to contribute to reducing half of all energy-related greenhouse gas emissions. #And while recent studies show remarkable progress in the field of renewables, it is disheartening to see that, at the same time, global energy efficiency shows the slowest rate of improvement in a decade.
#Which implies that in their post-Covid-19 economic recovery plans, those governments committed to energy sustainability should spare no resources to promote energy efficiency. #Especially if it is taken into account that actions in this field would contribute to boosting economic growth and job creation.
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