The UAE Ministry of Energy and Infrastructure launched the Global Energy Efficiency Alliance (GEEA) at COP29, an initiative aimed at doubling global energy efficiency rates annually while significantly reducing carbon emissions.
The GEEA highlights some of the potential of climate efficiency as such;
- Environmental Impact – Energy efficiency can reduce emissions significantly, preserving resources and protecting natural habitats. Improved efficiency could account for up to 40 per cent of the emissions reductions needed to reach global climate targets.
- Economic Impact – Energy efficiency can drive economic growth , reduce operational costs and increase competitiveness. Every $1 invested in energy efficiency returns $2 in savings.
- Social Impact – Improving energy efficiency enhances quality of life by reducing pollution , improving public health and promoting sustainable cities.
The GEEA calls for global collaboration to drive energy efficiency, which is one of the quickest, most impactful ways to reduce emissions and build resilience.
“Energy efficiency is not just a goal; it’s the foundation of our sustainable future”, said H.E. Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs, Ministry of Energy and Infrastructure.
Key objectives of the Global Energy Efficiency Alliance:
Global knowledge exchange, establishing a platform for sharing best practices and data. Capacity building, providing training and resources for emerging economies to adopt advanced technologies, regulatory frameworks and financing models. Public-private partnerships, facilitating collaborations between governments, private sectors and financial institutions. Standards and certification, harmonising global energy efficiency standards to ensure consistent benchmarks.
Key actions the GEEA propose:
Policy guidance, helping countries design and implement best-in-class energy efficiency policies. Innovation and technology, fostering innovation by creating a platform for sharing new technologies. A financial framework, establishing a model for green financial funding in collaboration with the banks. Knowledge and capacity building, providing resources and training for energy efficiency implementation.
The GEEA put forward a roadmap to forming an international alliance –
In 2024, the initiative hopes to establish a founding committee, create framework documents and engage stakeholders for initial partnerships.
In 2025, the official launch of the GEEA will hope to initiate flagship projects and monitor global energy efficiency progress.
In 2025 and beyond, the GEEA hopes to achieve targeted improvement rates, become a recognised leader in energy efficiency, and expand the alliance’s impact.
The GEEA’s vision is “A world where energy efficiency leads the way to a sustainable, resilient and equitable future”, which can be accelerated through international collaboration on energy efficiency and carbon emission reductions.
The GEEA states “We invite governments, organisations, and industry leaders to join us in creating this alliance, setting ambitious goals and working collaboratively. This alliance will play a pivotal role in realising a sustainable future through energy efficiency. We call on all nations to join us in this crucial effort.”