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Session 1: Global context and policy frameworks 2nd energy efficiency finance and investment forum - Dr. Marianne Osterkorn - REEEP
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Session 1: Global context and policy frameworks2nd energy efficiency finance
and investment forum
London1-2 December 2008
Dr Marianne OsterkornREEEP CEO
Does the financial crisis threaten climate change m omentum ?
"We're going to have to grow out of this and have t o create growth opportunities for long-term sustainable investment, and this is an area which looks as though it could well grow strongly, and with the right support could be one of the major engines of growth "
At the same time, Barroso warned that the financial crisis should not undermine the EU’s priorities on climate change and sustainable development. He asked EU member sta tes for agreement on key climate change goals by December.
"We will establish strong annual targets that set u s on a course to reduce emissions to their 1990 levels by 2020 and r educe them byan additional 80% by 2050”"My presidency will mark a new chapter in America's leadership on climate change that will strengthen our security and create millions of new jobs in the process."
Lord Stern of Brentford
Barack Obama
Manuel Barroso
Source: BP Yearbook, IEA
The rise in energy demand may be slowed down by the current global economic crisis, but will continue nonetheless.
China accounts for 15% of world energy demand, with 19% of the world’s population. One half of the global cement productio n occurs in China as the country leads in new buildings and roads.
Source: IEA
In 2007 China surpassed the US as the world's large st CO2 emitter
However, China’s per capita emissions of 3.7 tons s till remain far below the US per capita figure of 19.7 tons.
Projected annual CO2 emissions in million metric to ns
Source: IEA WEO 2008
More than half of emission reductions could be achi eved through energy efficiency measures
Improved efficiency and de-carbonizing the power se ctor could bring emissions back to current levels by 2030.
The lost finances could have saved our planet
The cost estimatesof the financial
crisis vary from 6000
to 22 000 billion USD
The cost estimatesof the financial
crisis vary from 6000
to 22 000 billion USD
� could have financed the reduction of the global GHG emissions
� could have financed the insulation of all EU private homes
� could have turned the European power and grid into a smart network with exclusively green power
� could have financed the reduction of the global GHG emissions
� could have financed the insulation of all EU private homes
� could have turned the European power and grid into a smart network with exclusively green power
Energy efficiency allows emission reduction at nega tive costs
Source: Vattenfall
Source: IEA WEO 2008
A combination of policy mechanisms – reflecting nati ons’ varied circumstances & current negotiating positions - this is what the Cop enhagen COP15 should aim for.
Market forces alone don’t deliver cost effective sa vings –Supportive policies / incentives are also needed
Source: IEA
Example: Impact of building codes on energy efficie ncy in houses
Example Denmark: The results of energy certificatio n of more than 200,000 buildings show that implementing building codes would still b ring further improvements.
Actual energy consumption in single family houses i n Denmark, relative to energy efficiency requirements in building codes
� Target of making America the most energy-efficient country in the world (currently ranked 22nd)
� Set national building efficiency goals
� Make all new buildings carbon neutral or zero emissions by 2030
� Improving new construction efficiency by 50%, existing building efficiency by 25%
� Make the U.S. federal government (the world’s largest single consumer of energy) a leader in green building
� Retrofits to achieve a 40% increase in efficiency of federal buildings within 5 years
� All new federal buildings zero emissions by 2025
� Weatherize one million low-income homes annually
� More energy-efficient land use and development patterns
The Obama “New Energy for America” plan underlines t he importance of policy-making
� Lack of comparable data, standards and information
� Lack of awareness of potential for savings in each sector
� Lack of comparable data, standards and information
� Lack of best practices due to the complexity of energy efficiency matters
� Emerging economies frequently consider energy efficiency a responsibility of developed countries
� Discrepancy between political talking and real implementation
� Responsibility is scattered among governments and varied market players
� Lack of financial interest because many energy efficiency measures are not asset-based
REEEP launching of its Energy Efficiency Assessment Reportwill help to reduce the barriers to energy efficien cy
� Unique chance for governments to link financial support and regulations to sustainable investments
� Economic pressure can motivate companies to target their investments where easy financial wins can be achieved – energy efficiency pays for itself
� Governmental bail-outs for banks should be combined with obligations for the banks to prioritise sustainable investments
� Targeting investments into clean energy and energy savings can create new jobs and increase future energy security
� By using the global awareness of the economic crises, the emerging markets can be attracted to re-target their investments away from energy-intensive applications towards sustainable climate friendly solutions
Tackling the economic crisis and climate change all in one go –turning a problem in an opportunity
REEEP International SecretariatVienna International Centre
Room D1732Vienna, [email protected]
+43 1 26026 3425
www.reeep.org