As the world faces the urgency of addressing climate change, COP28’s Global Renewables & Energy Efficiency Pledge called on nations to double global energy efficiency by 2030. Achieving this ambitious target requires stronger policies, de-risking finance, and widespread adoption of efficient technologies and services.

At the Asia Clean Energy Forum (ACEF) 2024, CLASP, SE4All and Mission Efficiency’s event delved into how to get this done. These are the main takeaways:

Balancing Costs and Benefits of Energy Efficiency

A central theme at ACEF 2024 was the financial challenges associated with implementing energy efficiency measures. The experts emphasized the need to balance the initial high purchase costs with long-term benefits and savings. The consensus was clear: the long-term advantages of energy efficiency, such as reduced energy bills and environmental benefits, outweigh the upfront investments.

Integrating Energy Access and Energy Efficiency

Energy access and energy efficiency are interconnected. . Efforts to improve energy access must be integrated with efficiency measures to maximize impact. This holistic approach ensures that increasing energy availability is coupled with efficient and judicious use, preventing wastage.

Developing a Comprehensive Implementation Plan

Participants emphasized the need for a detailed implementation plan to achieve energy efficiency goals. This plan should involve all relevant stakeholders and include clear milestones and deadlines. Regular monitoring and reporting systems at both national and global levels were deemed essential for tracking progress and ensuring accountability.

Patrick Aquino, Director of the Energy Utilization Management Bureau, Department of Energy Philippines: “Access to affordable, clean energy is important for improving quality of life. Transitioning to renewable energy sources and enhancing appliance efficiency are crucial for reducing energy consumption and environmental impact.”

Making Access to Efficiency Affordable 

Munira Sultana, Chairman, Sustainable and Renewable Energy Development Authority (SREDA), Bangladesh, pointed out that the provision of low-cost financing for energy-efficient equipment helped facilitate the adoption of energy-efficient technologies significantly.

Sushil Chandra Tiwari, Government of Nepal Secretary, Minister of Energy, Water Resources and Irrigation mentioned that increasing energy efficiency in Nepal would require raising awareness, implementing robust efficiency policies, establishing standards for energy-efficient appliances, and reducing fossil fuel imports.

This discussion at ACEF 2024 reaffirmed the importance of energy efficiency as a vital component of sustainable development and climate goals. With clear strategies, collaborative efforts, and comprehensive implementation plans, the path toward a more energy-efficient and sustainable future is within reach.