Danfoss CEO, Kim Fausing, has warned there will be no net zero future without more action on energy efficiency.
Fausing said energy efficiency continues to be ignored in the net zero narrative.
He called on the world’s energy and climate ministers to do more to implement and execute energy efficiency policies as a key tool to curb energy demand, ensure energy security and mitigate climate change.
Speaking at the International Energy Agency’s (IEA) 8th Annual Global Conference on Energy Efficiency in Versailles, France, Fausing delivered his warning to representatives from more than 80 countries, 30 ministers, 50 CEOs and 650 participants.
While global energy efficiency progress reached 2.2 per cent in 2022, twice the average over the previous five years, this is still far short of the necessary four per cent improvements needed annually for the period 2020-2030 for the world to reach the Paris Agreement climate goals.
Global energy demand grew by one per cent in 2022.