Together with The Climate Group, UNEP, IEA, KCEP and the UK Department for Business, Energy & Industrial Strategy, the Cool Coalition and the COP 26 High Level Champions invite you to a webinar to hear about new announcements on products energy efficiency from champion governments, businesses and international organizations.
Improving the efficiency of every day products such as fridges, lights, and air-conditioners and the electric motors that drive them, is a critical solution in urgent efforts to limit global temperature rise to 1.5 degrees Celsius – illustrated in the UNEP Gap Report which states that “efficient appliances” are one of the six areas with highest potential of closing the emissions gap. In addition to saving energy and emissions, product efficiency also brings multiple benefits for governments, businesses and consumers in reduced energy bills, improved air quality, enhanced real estate value, energy security and avoided energy supply costs.
Product energy efficiency policy can unlock these multiple benefits. For example, EU product policy has reduced product energy demand by 15% below business-as-usual levels, resulting in net consumer financial savings of EUR 63 billion and EUR 66 billion in extra revenue for businesses. However, the average efficiency of products sold is still low for most products. For example, the average efficiency of air conditioners sold in major markets today is less than half of what is typically available on the shelves – and one third of best available technology. This presents a huge opportunity for governments, businesses, investors and public authorities across the world. As we march ahead to COP26 in Glasgow in November 2021, collectively we can raise efficiency standards to new highs with commitments for policies, investments and products.
As part of the COP26 Energy Transition Campaign, the UK and IEA are developing a Product Efficiency Call to Action, and together with partners The Climate Group, UNEP, The Kigali Cooling Efficiency Program, the Cool Coalition and the Cop26 High Level Champions, invite you to this webinar to hear new announcements from champion governments, businesses and financiers, philanthropy and international organizations. The webinar will mark an important step forward in global efforts to increase product efficiency.
PURPOSE OF THE SESSION
- To launch the NDC Support Facility for cooling;
- To raise profile, draw attention to aims of COP26 Product Efficiency Call to Action with a view to support further conversations with existing and prospective SEAD members;
- To demonstrate synergy and collaboration between key globally influential organisations in product efficiency;
- To give voices to key country champions on product efficiency and announce/outline plans to reflect action in NDCs on cooling supported by the NDC Support Facility for cooling;
- To mobilise action from businesses on product efficiency through EP100;
- To contribute to the Cool Coalition’s objective to support governments and industry to implement/take ambitious action to meet growing cooling demands in a comprehensive manner, in line with the Paris Agreement, SDGs, and the Kigali Amendment.
