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illuminem summarizes for you the essential news of the day. Read the full piece on World Economic Forum or enjoy below:
🗞️ Driving the news: At COP29, world leaders convene amid a critical but neglected priority: doubling global energy efficiency
• This initiative, vital for climate goals, has seen little discussion or progress despite its inclusion in last year’s commitments
• Energy efficiency, alongside renewable energy, could significantly advance emission reductions and affordability
🔭 The context: COP29 marks a year since the pledge to increase energy efficiency from 2% to over 4% annually by 2030
• Despite efforts in renewable energy adoption, energy efficiency remains underemphasized on this year’s agenda
• Measures like smarter systems and efficient technologies could cut emissions dramatically and save trillions
🌍 Why it matters for the planet: Energy efficiency is the most accessible and cost-effective tool for reducing emissions, aligning with the Paris Agreement goals
• It ensures equitable energy access while minimizing environmental impact and resource demand
• In emerging economies, it supports growth sustainably, protecting populations from extreme conditions and reducing energy burdens
⏭️ What's next: Integrating energy efficiency into the COP29 agenda could accelerate adoption, particularly in the Global South
• Policy interventions must prioritize energy-efficient practices across sectors, from construction to transportation
• Pursuing both clean energy and efficiency could double the pace of climate progress while maintaining affordability
💬 One quote: “Pursuing energy efficiency alongside clean energy will double the pace of progress and keep delivering climate goals that are affordable and within reach” – Jon Creyts, CEO of RMI
📈 One stat: In 2022, energy efficiency saved 15% of total energy costs in countries that implemented measures, with potential global savings of up to $2 trillion annually
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