Shifting the Trillions - Prioritise energy efficiency as infrastructure investment
Energiaklub has joined international NGOs and corporations, coordinated by e3G to call on the G20 to promote improvements in global energy productivity by giving energy efficiency investments the same priority as other types of infrastructure investment. While we strongly support the work being done to implement the G20 Energy Efficiency Action Plan, we call for additional action.
Economic analysis shows that investments in energy efficiency – such as refurbishing buildings, industries and energy infrastructure, and ensuring that new facilities are built to be as efficient as possible – outperform other forms of infrastructure investments in terms of tax revenues and jobs created as well as the overall impact on GDP and balance of trade.
National energy efficiency investment needs are on par with other major infrastructure choices. By supporting efficient energy use, nations can improve their energy productivity – the economic output generated by every unit of energy used.
Energy efficiency has the characteristics of other traditionally recognized infrastructure such as roads, railways and energy supply investments. It is long-lasting capital stock and provides inputs to a wide range of goods and services. By promoting widespread investment in energy efficient technologies and services, the G20 has the opportunity to help countries achieve their climate goals, improve global quality of life and create millions of jobs.
Experience in many G20 countries has demonstrated that policies and regulations promoting efficiency in buildings, industry, and appliances can attract significant private sector investment while more than covering the costs to the public.
Yet the majority of G20 countries still regard energy efficiency and energy productivity as small-scale programmatic expenditures. We call for a change in this approach in order to ensure that energy efficiency investments are prioritized alongside other large-scale capital expenditure priorities.
We call on G20 Finance Ministers to commit to:
- Reclassify investment in energy efficiency as an infrastructure priority;
- Undertake an assessment of structural reforms to address financing barriers and grow markets for improving energy productivity;
- Commit to delivering sufficient public funding by providing equal access to finance among householders and to leverage the large scale of private finance needed to repair and enhance our building infrastructure.
The G20 Leaders Summit will be held on November 15-16, 2015. The statement is supported by corporations such as Philips, Knauf Insulation, Danfoss etc. and NGOs such as EuroACE, Coalition for Energy Efficiency, Climate Action Network, Alliance to Save Energy etc.