Better energy efficiency needed to achieve climate goals, IEA says

(Reuters) Measures to promote energy efficiency are not enough to meet the world's climate targets, a global energy watchdog warned.

Ahead of the United Nations climate summit, or COP28, the International Energy Agency (IEA) said global improvements in energy intensity – a primary measure of energy efficiency – slowed in 2023.

A report by IEA found that to achieve net zero emissions from the energy sector by 2050, which is considered essential to limit global warming to the target set under the Paris Agreement in 2015, annual improvements in energy efficiency need to double to more than 4% per year on average between now and 2030.

In 2023, global energy intensity improved by 1.3%, well below what is needed to achieve the target, IEA said.

According to the report, this was due to an economic rebound in energy-intensive sectors such as petrochemicals and aviation, as well as higher demand for air conditioning.

“The world’s climate ambitions hinge on our ability to make the global energy system much more efficient," IEA executive director Fatih Birol said.

If governments wanted to keep the 1.5 degrees Celsius goal within reach while supporting energy security, doubling energy efficiency progress this decade was "critical," Birol added.