Dozens of governments from across the globe issued a joint statement today agreeing to make energy efficiency a cornerstone of energy policy, recognising its critical role in building resilience against future energy shocks, improving affordability for consumers and boosting economic competitiveness.
Countries agree on stronger efficiency action to shield households and businesses from price volatility and strengthen resilience to future shocks as they contend with impacts of Middle East war.
Meeting at the IEA’s 11th Annual Global Conference on Energy Efficiency in Montreal, co-hosted by the Government of Canada, ministers and senior officials from all continents said recent disruptions to global energy markets following the war in West Asia had reinforced the need to accelerate energy efficiency as one of the quickest and most effective ways to lower energy costs, strengthen energy security and reduce exposure to future market volatility.
In the statement, governments called for stronger action on energy efficiency, including increased support for vulnerable households and businesses, renewed efforts to improve efficiency in buildings and data centres, and measures to unlock investment without creating unnecessary administrative burdens.
Recognising that vulnerable households and MSMEs are often among those hardest hit by energy price volatility, governments committed to ensuring that all people can access the benefits of energy efficiency. Countries pledged to look for opportunities to expand policies that can ease immediate pressures while improving resilience over the longer term.
“As successive energy crises have shown, energy efficiency remains one of the most powerful tools available to governments for strengthening energy security, lowering costs and boosting economic competitiveness. Best of all, it is a resource that every country possesses in abundance,” said IEA Executive Director Fatih Birol. “The commitments made in Montreal today demonstrate strong international resolve to put efficiency at the heart of energy policy and accelerate progress towards a more secure, resilient and sustainable global energy system. Just as the oil crises of the 1970s drove major improvements in the way energy is used, today’s crisis is set to serve as a catalyst for faster action on efficiency.”
