There is a growing consensus that energy efficiency needs to be tackled by all stakeholders, public and private sector, individuals, said Azerbaijan’s deputy energy minister Samir Valiyev during the CAREC Energy Investment Forum, Trend reports.
“Energy efficiency is one of the key areas to achieve climate targets. Energy efficiency initiatives also need synergy with other areas beyond the energy sector in order to achieve better and optimal results. Behavioral changes are needed to expand the scale and scope of energy efficiency. According to the forecast of the International Energy Agency, digital transformation of the energy efficiency policy will play an important role in the transition to net zero carbon emissions,” he said.
Valiyev went on to add that according to the IEA net zero scenario, global energy demand in 2050 will be approximately 8 percent lower than today though will be sufficient for 2 billion more people.
“We must seriously consider the correlation between the application of technological innovations and energy efficiency. In the end, ensuring energy efficiency depends on investments and financial support. It is important that private sector and financial institutions are more closely involved and act as stakeholders,” added the deputy minister.
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