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.