Tweet                                                

G20 toolkit aims to mobilise money for massive energy efficiency push

Mexico has made increasing energy efficiency investments a strategic component of the national energy agenda.
Mexico has made increasing energy efficiency investments a strategic component of the national energy agenda.

A toolkit to help massively scale up energy efficiency has been released by the G20 Energy Efficiency Finance Task Group (EEFTG).

Buildings are firmly in the spotlight as offering enormous opportunities for positive economic, social and environmental gains by making energy efficiency mainstream across all asset classes.

The importance of institutional investor and bank engagement is also highlighted, as is the potential role of the insurance industry in evolving products specifically tailored to mitigate the risk of investing in energy efficiency.

Peter Sweatman, rapporteur and technical lead of the G20 EEFTG, said the toolkit marked a “turning point” in collaboration between G20 countries to scale up energy efficiency investments and finance.

“With 122 banks, over US$4 trillion of investors, leading public financial institutions and insurers now engaged on this critical issue, we have the public, private and policy framework and engagement through which to build the energy efficient future growth that our participating G20 countries together envision,” Mr Sweatman said.

The project was led by Mexico and France, the co-chairs of the G20 EEFTG.

Mexico has made increasing energy efficiency investments a strategic component of the national energy agenda.

“Scaling-up energy efficiency investments has been seen to deliver multiple benefits to the Mexican economy and is a central part of our energy transition, as developed by our recently published Energy Efficiency Roadmap,” Mexico Ministry of Energy director general for energy efficiency and sustainability Santiago Creuheras Diaz said.

The toolkit includes some interesting insights, such as US homebuyers purchasing a property with an Energy Star rating are less likely to default on their mortgage than those buying non-rated properties.

It also suggests there need to be clear strategies in all G20 nations for addressing the “worst in class” buildings and assets.

The need for a more systematic and integrated approach to planning that considers transport, buildings, infrastructure and smart city systems is also identified as important.

Energy efficiency needs to be fundamental to all design and planning, the toolkit said, and investors should be looking for evidence of this.

“For the energy transition that we face, energy efficiency has to be global, systematic and deployed at the level of its known potential,” International Partnership for Energy Efficiency Cooperation executive director Benoit Lebot said.

“To enhance energy productivity in G20 economies, embedding energy efficiency in investment processes is key, in particular through an enabling policy framework. The toolkit addresses this important gap.”

Tags: , ,

More Articles on this Topic