Energy Efficiency In G20 Countries Increased By Four Percent: IEA Report

Energy Efficiency In G20 Countries Increased By Four Percent: IEA Report

A latest report of the International Energy Agency (IEA) on energy efficiency emphasized that a doubling of efficiency progress has the potential to reduce energy bills by one-third. It said that it has the potential to reduce carbon dioxide (CO2) emissions by 50% in 2030. The report underscores the pivotal role the G20 countries can play in achieving this goal by significantly increasing the global rate of energy intensity progress.

The report mentions that, over the past decade, 90% of countries have achieved a 4% rate of progress at least once, with half accomplishing this feat at least three times. It adds that, only four G20 countries—China, France, the United Kingdom, and Indonesia—have consistently maintained this progress over a continuous 5-year period. Although others have approached this achievement in the last decade, these four nations stand out.

75% of countries exceeded 4% or came close with annual improvements above 3% at least once in every four years.

The report mentions that, among the G20 nations, three major entities—China (25%), the United States (14%), and the European Union (9%)—account for nearly half of global energy demand. It elaborates that, non-G20 nations contribute 26% to global energy demand. It examines individual G20 economies, responsible for approximately 80% of global energy consumption, reveals that fourteen countries accelerated their energy intensity improvements from 2011 to 2020 compared to the previous decade. Notably, Argentina and Brazil, the only two G20 countries with negative energy intensity improvements in the past decade, experienced a positive shift in efficiency in 2021 and 2022. This indicates a potential turning point in their progress.

G20 economies – together responsible for around 80% of global energy consumption

Based on the data of 150 countries, it finds that, since 2012, 91% improved has been found in energy intensity which witnessed an improvement by 4%. This improvement was found to be three times in more than half (53%) countries. Within the G20, which significantly influences the global target, 75% of countries exceeded 4% or came close, with annual improvements above 3% at least once every four years.

It recommends that, doubling efficiency progress presents a challenge requiring heightened policy ambition and investment from governments and industries. It adds that, many countries have already set a precedent by achieving it during specific periods. The data shows that nations globally, especially within the G20, have the potential to make substantial contributions to the overarching energy efficiency objectives.