IEA Brings Together Leading Global Figures To Discuss Energy Efficiency Role In COVID-19 Stimulus Packages

The International Energy Agency (IEA) coordinated an April 21 meeting of the Global Commission for Urgent Action on Energy Efficiency to discuss the vital role that energy efficiency can play in improving the effectiveness of stimulus packages that governments are developing in response to the COVID-19 crisis.

The Global Commission is an independent high-level body that was established to advance global progress on energy efficiency. It has 23 members and is composed of national leaders, ministers, top business executives, and global thought leaders.

Senior figures from Asia, Africa, Europe, and the Americas discussed the potential for energy efficiency to create jobs and provide economic stimulus while also ensuring long-term improvements in energy systems. These include enhanced economic competitiveness, lower energy bills, and major reductions greenhouse gas emissions.

“Experience has proven the effectiveness of including energy efficiency in stimulus programs,” said Dr. Fatih Birol, the IEA’s executive director. “Targeted investments now can create jobs immediately and also bring long-term benefits for consumers, businesses, and the environment.”

The Commission will publish its recommendations in the coming months, providing advice to governments around the world on how they can act quickly to accelerate energy efficiency progress through well-designed and well-implemented policy action. IEA will also publish a special World Energy Outlook report in June on how to reduce emissions while bolstering the economy. The report will quantify the job creation potential of a range of clean energy measures, including key energy efficiency actions.

For more information on the work of the Global Commission for Urgent Action on Energy Efficiency, visit the commission’s web page at iea.org/programmes/global-commission-for-urgent-action-on-energy-efficiency.

SOURCE: The Weekly Propane Newsletter, April 23, 2020. Subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.