A Partnership To Double Corporate Energy Productivity
I’m pleased to announce that the Global Alliance for Energy Productivity has formally partnered with The Climate Group to support the EP100 corporate commitment program. Through EP100, companies demonstrate real global leadership by committing to doubling energy productivity within 25 years from a baseline year of 2005 or later. Seven companies have signed up to date, including Alliance to Save Energy Associate Members Johnson Controls, Danfoss, Covestro and Hongbo Group. More companies are expected to announce commitments in Morocco during the 22nd Conference of the Parties.
The Alliance to Save Energy serves as the Secretariat for the Global Alliance in order to take the message of energy productivity to the world. Through the Energy 2030 program, the Alliance has worked directly with the U.S. Department of Energy and the Council on Competitiveness to promote national progress towards doubling energy productivity in the fastest possible timeline. As a part of that work, a number of private sector leaders have submitted energy productivity success stories, showcasing the ways that energy efficient technologies and practices can help improve corporate financial stability and achieve energy savings.
In the wake of the Paris climate agreement, it is critically important that the private sector demonstrates that it is not only possible to double energy productivity, but also profitable. EP100 is a chance for private sector leaders to demonstrate the business case for energy productivity, setting an example for companies all over the world. By investing in energy-efficient technologies and practices, companies can maximize the economic benefits of every unit of energy they consume.
And by doubling energy productivity, companies can make powerful contributions to achieving international climate goals. In fact, the International Energy Agency estimates that improving energy productivity will be responsible for about half of the necessary greenhouse gas emissions reductions.
In the United States, the benefits of doubling energy productivity are manifold. Models show that doubling energy productivity by 2030 in the U.S. alone would generate $327 billion in consumer savings, create 1.3 million jobs and reduce CO2 emissions to 33% below 2005 levels.
I urge leading companies to consider joining EP100 today, or take the intermediate step of endorsing the Global Alliance goal of doubling global energy productivity.