More work needed on energy efficiency – IEA

Improvement rate must double for net zero to be feasible, agency says

The rate of improvement in energy efficiency gains must double from current levels to be on a pathway consistent with reaching net-zero emissions by 2050, according to the IEA’s Energy Efficiency 2021 report. Energy intensity—a measure of the global economy’s energy efficiency—is expected to fall by 1.9pc this year, after falling by only 0.5pc in 2020. But this is still well below the 4pc annual fall required every year up to 2030 in the IEA’s net-zero emissions scenario. Government policies are expected to help energy efficiency investments rise by 10pc in 2021, to almost $300bn. However, overall annual investment would need to triple by 2030 to be consistent with levels foreseen in the IEA