Report Identifies Efficiency as Key Factor to Address Global Energy Demand

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- Efficiency can contribute the most energy "supply" while reducing costs and greenhouse gases and increasing energy security
- Report discusses the role of investmentgrade energy efficiency, consumer behaviour and technological innovation as key elements to develop an appropriate infrastructure for energy efficiency
- Full report, video interview and more at: www.weforum.org/energy

The World Economic Forum today launched the Energy Vision Update 2010 - Towards a More Energy Efficient World report. The report explores the importance of energy efficiency to meet the world's energy demands. Written in partnership with IHS Cambridge Energy Research Associates, the report argues that, of all the energy options available, efficiency can contribute the most energy "supply" while reducing costs and greenhouse gases and, at the same time, increasing energy security.

"Efficiency is at the core of a number of energyrelated issues," said Roberto Bocca, Senior Director, Head of Energy Industries, World Economic Forum. "Faced with multiple challenges like growing energy demand, climate change and energy security, efficiency has moved to the top of the energy agendas of both government and business." (Click on the image to view the 3minute video interview with Roberto Bocca)

The report finds that, despite its crucial role in the world's energy strategies, energy efficiency is often misunderstood and is in need of "rebranding" to match its potential. The relative intangibility of energy efficiency also presents a challenge to a greater understanding of this potential. Companies and individuals tend to invest in assets and products that they can see, feel and touch, while governments tend to support programmes that generate jobs and create technologies for export. Energy efficiency is not a "thing", but a process and a way of thinking.

"Efficiency is often incorrectly associated with sacrifice," noted Daniel Yergin, Chairman, CERA; Executive Vice-President, IHS, USA. "Energy efficiency really means getting more of the things we want while using less energy by improving the productivity of energy use. Efficiency means that consumers use less energy while preserving their lifestyles or even enhancing them."

The report concludes that knowledge about the nature of investmentgrade energy efficiency, consumer behaviour and technological innovation allows companies and policymakers to create the distinctive "infrastructure" that is essential to reaching energy efficiency goals.

Energy Vision Update 2010 - Towards a More Energy Efficient World includes perspectives from highlevel representatives of industry, government, nongovernmental organizations and academia. The following have contributed to the report:

Kateri Callahan, President, Alliance to Save Energy, USA; Steven Chu, US Secretary of Energy; Peter L. Corsell, Chief Executive Officer, GridPoint, USA; Arkady Dvorkovich, Aide to the President, G8 Affairs, Office of the President, Russian Federation; José Sergio Gabrielli de Azevedo, President and Chief Executive Officer, Petroleo Brasileiro Petrobras, Brazil; Leon R. Glicksman, Professor of Building Science and Mechanical Engineering, Massachusetts Institute of Technology, USA; S. Iswaran, Senior Minister of State, Trade and Industry, Singapore; John Krenicki, Vice-Chairman, GE, and Chairman and Chief Executive Officer, GE Energy Infrastructure, USA; Li Junfeng, Deputy Director, Energy Research Institute, National Development and Reform Commission, People's Republic of China; Andrew Liveris, Chief Executive Officer and Chairman, The Dow Chemical Company, USA; Lawrence J. Makovich, Vice-President and Senior Adviser, IHS CERA, USA; Masayuki Naoshima, Minister of Economy, Trade and Industry of Japan; Gavin Newsom, Mayor of the City of San Francisco, USA; Lee Schipper, Project Scientist, Global Metropolitan Studies, University of California, Berkeley, and Senior Engineer, Precourt Energy Efficiency Center, Stanford University, USA; Masataka Shimizu, President, Tokyo Electric Power Company (TEPCO), Japan; Rex W. Tillerson, Chief Executive Officer and Chairman, Exxon Mobil Corporation, USA; and Peter Voser, Chief Executive Officer, Royal Dutch Shell, The Netherlands.
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