Unlocking Energy Savings in Europe’s Economy
Improving energy savings is not only key to fighting climate change; it is also the cheapest way to reduce fossil fuel energy consumption and the cornerstone of long-term economic and social prosperity.Globally, energy use contributes to almost two-thirds of greenhouse gas emissions, and these emissions are rising. Although largely neglected, the most cost-effective way to reduce energy consumption is by promoting the use of more efficient appliances and cars, better insulation, better heating and cooling systems.
The economic benefits of energy savings
The benefits of energy savings also extend far beyond achieving reductions in greenhouse gas emissions.
Energy savings contribute to economic and social prosperity. Investing in energy savings boosts job creation and reduces the amount Europe spends on energy imports. It also reduces energy costs for businesses and industries and would make the European Union more competitive internationally.
Stopping the wasteful use of energy and improving energy efficiency would also directly benefit European citizens by lowering energy bills for consumers and protecting homeowners from fluctuating energy prices.
In times of global economic crisis Europe cannot afford to miss the energy savings opportunity. It is now time for European leaders to get the European Union on track to meet its promised 20% energy savings target by 2020, and to include an energy savings binding target in a post-2020 policy package.
Arianna Vitali Roscini
WWF European Policy Office
+32 2 743 88 16