Europe to miss 20 per cent reduction target

The EU is on course to miss its 20 per cent cut in energy consumption by 2020, delegates at the recent Euro-Mediterranean Energy Efficiency Forum in Monaco were told.

Tudor Constantinescu, principal advisor to Dominique Ristori, the Commission's Director-General for energy, outlined the European Commission's thinking and priorities on energy efficiency. He said: "Based on current estimates we may only achieve energy savings between 16 percent and 18 percent. New EU actions and aims for 2030 will be open for discussion with a view to reach a new policy framework in October."

Adrian Joyce, campaign director of Renovate Europe, said retrofitting of old buildings is key to EU success in 2030: "With Europe's very small demolition rate we will still have 90 percent of the current buildings standing in 2050," he said. A binding target for the energy consumption of buildings should be set at around 55 percent, he continued, and the overall energy efficiency target at 40 percent, which together could deliver a 40 percent reduction in greenhouse gases. There also needs to be a change of thinking: "We should not be talking about burden sharing, but opportunity sharing," he concluded.

The attendees discussed the policies necessary to support greater energy efficiency investments and heard examples of best practices where energy efficiency has spurred economic development in addition to comfort, health, productivity and other benefits.

In his inaugural speech His Serene Highness Prince Albert II of Monaco emphasised that the timing now seems right for energy efficiency to make a big impact. “At a time when the future of our planet is subjected to significant threats, at a time when energy-related strategic issues appear to be more controversial than ever before, above all at a time when Europe is struggling to find the mainsprings of new economic growth, this is an objective which we should target together. In this way, we will make energy efficiency a genuine source of shared hope for our planet,” said His Serene Highness Prince Albert II of Monaco.

Opening the first of three expert panel sessions, Michael Geissler, CEO of the Berlin Energy Agency, said current worries over energy security raised by the crisis in the Ukraine is one factor making the issue of energy efficiency timely for the EU. "Given the tensions between the EU and Russia, energy security may become more important in the next months and perhaps the next few years," he said.

According to panellist Agostino Renna, CEO of GE Lighting in Europe, the Middle-East and Africa three other forces are brewing the "perfect storm" to push energy efficiency up the agenda. Forces include heightened awareness of climate change; the "industrial internet" of embedded devices which "bring together the physical and analytical world"; and companies' renewed embrace of innovation and entrepreneurialism.