‘Golden era’ lying ahead for EU’s energy efficiency industries, IEA says
(EurActiv, 20 Oct 2023) European companies are among world leaders in energy saving solutions and are ideally positioned to reap the benefits of climate action, but they feel ignored by Brussels, which left aside the EU’s multi-billion energy efficiency sector in its recent Net-Zero Industry Act.
Energy efficiency – doing more with less – is widely considered as a core tenet of climate action. The International Energy Agency (IEA) estimates that the sector will provide 40% of the necessary greenhouse gas cuts expected worldwide by 2040.
Yet, the European companies producing the many technologies that help improve energy efficiency feel left out by policymakers in Brussels.
“We sometimes have the impression that more could have been done to recognise the full role of the energy efficient industrial ecosystem and its potential to decarbonise Europe,” said Arianna Vitali Roscini, secretary-general of the coalition for energy savings, an association bringing together businesses, local authorities and civil society groups.
Among the European champions is Danish multinational Danfoss, which is best known for manufacturing the valves controlling the heat output of radiators. The company employs more than 40,000 people and had a turnover of more than €10 billion in 2021.