Improving energy efficiency is one of the most cost-effective measures governments and businesses can take to mitigate greenhouse gas emissions.
As efficiency upgrades creates jobs, the International Energy Agency has calculated that every USD 1 million spent on energy efficiency can generate between 6 and 15 jobs on average, depending on the sector. Yet, efficiency improvements have been slowing down (IEA, 2020). If we wish to achieve our commitments under the Paris Agreement and Sustainable Development Goals (SDGs), the annual energy efficiency rate must be doubled by 2030.
