Less Is More - Global Energy Efficiency

Sarbjit Nahal, Valery Lucas-Leclin and Others

Research Organisation
Bank of America Merrill Lynch

Report Date
March 1, 2012

Document summary

The world may be facing a global energy crisis, with primary energy demand expected to increase by a third by 2035 (vs. 2010). Energy-related CO2 emissions are likely to increase by 20%, following a trajectory consistent with a long-term rise in the average global temperature in excess of 3.5°C – and potentially resulting in irreversible climate change, according to the IEA. In a resource-constrained world, energy demand needs to adjust to limited supply. The rationale for change includes: costs, economic competiveness, energy security, environmental sustainability, access to energy, and fuel poverty. Energy efficiency – the goal of efforts to reduce the amount of energy required to provide products and services – is a logical response. The recession is also making “less is more” the watchword of our era, with energy efficiency increasingly becoming the central plank of energy policy worldwide.

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