The International Energy Agency (“IEA”) is urging national leaders around the world to expedite their efforts to promote energy efficiency. A recent IEA report noted that while policymakers have expanded energy-efficiency measures in recent months, their progress isn’t sufficient to meet global climate targets.
Despite Russia’s 2022 invasion of Ukraine setting off a global energy crisis, the recently published Energy Efficiency 2023 market report says the momentum for energy-efficiency policy “continues to build.” The report notes that there was a 45% increase in energy-efficiency investments from 2020 to 2023. Furthermore, the report found that the nations responsible for three-quarters of the world’s total energy demand introduced new energy-efficiency policies or strengthened existing ones in 2023. Such measures are becoming increasingly widespread across the globe, the report says.
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