On Tuesday 21 May, at the opening session of the International Energy Agency’s (IEA) 9th Annual World Conference on Energy Efficiency, held in Nairobi, Kenya, the European Commissioner for Energy, Kadri Simson, outlined the critical areas for action to encourage funding for energy efficiency.
In order to meet the COP28 objective of doubling the rate of improvement in global energy efficiency by 2030 (see EUROPE 13306/6), the Commissioner emphasised the need to adopt “strong” policy and legislative frameworks that set targets, identify measures and clarify the role of the public sector, while giving greater stability and predictability to the private sector.
She went on to recognise the importance of efficient use of public resources to “foster innovation”, and indicated that the EU was ready to explore areas of enhanced cooperation with all its partners in order to make better use of public resources. In total, the EU has already committed to mobilise €2.3 billion in partner countries, “in addition to massive domestic efforts”.
Finally, the Commissioner stressed the need to develop a more intense dialogue on energy efficiency with the market and private investors, estimating that private investment will represent at least 80% of total investment.
She also pointed out that the EU was committed to helping other countries mobilise investment in energy efficiency, for example in Africa via the DESIREE programme with the European Investment Bank.
On the sidelines of the conference, Ms Simson held talks with Davis Chirchir, Cabinet Secretary of the Kenyan Ministry of Energy and Petroleum, and took part in the launch of the EU-Kenya ‘Green Resilient Electricity System’ energy project, as part of the EU’s ‘Global Gateway’ investment strategy. (Original version in French by Pauline Denys)