Energy Efficiency is the next financial gold mine

Representatives from some of Europe’s largest investors and private enterprises joined Europe’s leading policy makers and stakeholders at a half-day workshop on February 13, 2012 in Brussels to discuss “How to mobilise private sector finance for energy efficiency”.
Organised by European Alliance to Save Energy (EU-ASE) along with the Danish Presidency of the European Council and the Danish Ministry of Climate, Energy and Building, this event marked the first time that the world of finance openly discussed the need for a robust regulatory framework for energy efficiency with some of Europe’s key policy makers and campaigners. The focus of the debate was on whether the current proposal for an Energy Efficiency Directive (EED) was the best vehicle to deliver this.

With over 100 experts from the world of finance, industry and policy, including an address from Phillip Lowe, Director General of the DG Energy of the European Commission, the discussion was enlightening, yet overall the message was clear: money matters and investors are ready to mobilize energy efficiency investments if they have certainty on their return of investment.

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“The case for energy efficiency and why the EU must act NOW”

In 2008, faced with the challenges of global climate change, security of energy supply and the increasing scarcity of natural resources, the European Union (EU) committed to reduce greenhouse gas emissions by 20%1, pledged to ensure that 20% of EU final energy consumption would come from renewable energy sources, and called for a reduction in energy use across Europe by 20%. The targets for emissions and renewable energy sources were made legally binding; the EU is on track to achieve these targets. The commitment to save 20% of energy was not made legally binding and as a result, as it stands today, the EU is expected to achieve only 9% of its targets by 20202, not even 50% of its energy savings goal.

 

 

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“The EU’s Energy Efficiency Directive – An opportunity to support business whilst reducing our dependence on foreign energy supplies”

In June 2011 the European Commission published a new proposal for an Energy Efficiency Directive. The European Alliance to Save Energy (EU-ASE), Europe’s first business led alliance on energy efficiency, had hoped that this piece of legislation would put Europe where it should be; at the forefront of the global energy efficiency market. Instead, the draft Directive does not yet provide a clear legislative framework for the EU to meet its target of 20% primary energy savings by 2020. We are where we shouldn’t be; increasingly vulnerable to energy price and availability shocks and missing out on the huge opportunity to position European business at the forefront of the new markets for energy efficient goods and services across the globe. The opportunities that a drive towards an energy efficient Europe can provide are too important to miss and therefore we all must ensure that this Directive is transformed into a stepping stone towards success.

 

 

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“Un Manifesto per l’European Alliance to Save Energy: l’efficienza energetica – la fonte energetica europea inutilizzata”

Mai come oggi il risparmio energetico è stato così importante. Una maggiore efficienza energetica è la soluzione meno costosa, più veloce, sicura, facile e pulita per garantire la sicurezza energetica e climatica. E’ un settore in cui l’industria europea è all’avanguardia ed in cui il giusto equilibrio di decisioni politiche e scelte economiche può incrementare e proteggere la competitività dell’Europa. Le nostre imprese possono beneficiare della necessità ormai globale di maggiore efficienza energetica, sempre più cruciale in un mondo con risorse limitate.

L’Europa é ad una svolta: rompere la dipendenza dai combustibili fossili attraverso un’offensiva contro lo spreco di energia utilizzando l’enorme potenziale rappresentato dall’efficienza energetica oppure non prendere le decisioni necessarie e lasciarci vulnerabili ai rialzi dei prezzi, alle turbolenze politiche ed alle tecnologie obsolete.

Senza impegni vincolanti per una maggiore efficienza energetica entro il 2020 e una visione chiara di lungo periodo in favore di un’economia basata sull’efficienza energetica, l’Europa è destinata ad essere molto vulnerabile.

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“A Manifesto for the European Alliance to Save Energy: Energy Efficiency – Europe’s untapped energy resource”

Never before has the case for greater energy savings been so strong. Greater energy efficiency is the fastest, cheapest, safest, easiest and cleanest way to deliver climate and energy security. It is an area where businesses active in Europe excel and where the right mix of policy and business leadership can improve and protect Europe’s competitiveness. This leadership could position our enterprises to benefit from the global necessity for energy efficiency which will be critical in a resource constrained world.

Europe is at a turning point; whether to launch a determined offensive on wasted energy and to tap into the huge energy saving potential and, in doing so, breaking our addiction to fossil fuels, or to fail to take the necessary measures and leave Europe vulnerable to price shocks, political turmoil and risky energy technologies. With no binding commitment to energy efficiency for 2020 and no clear long term vision for an energy efficient economy, Europe is currently on track to remain highly vulnerable.

 

 

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