G20 china_web

Energy markets and access
KEY TAKEAWAYS
Efficiency improvements have slowed
the demand for energy
A market for energy-efficient
investments is emerging
A hybrid car being charged
Energy efficiency
for a sustainable
energy transition
The choices made now about sustainable and renewable energy
policies will be felt for decades. Fatih Birol tells us how governments
can reduce the growth of energy demand with help from the G20
Investment is the lifeblood of the global
energy system. The importance of
energy to the global economy is set to
grow as countries strive to accelerate
the energy transition and meet
collective climate goals. The challenge for
countries, both within the G20 and outside
it, is how to attract the necessary amounts
of capital and encourage the redirection of
investment flows to ensure a sustainable
energy transition while maintaining
energy security. A fundamental means
of addressing this challenge is through
making policy and investment choices that
increase energy efficiency and avoid the
growth of energy demand.
Making smart choices
Rapid growth in energy demand since 2003
has been led by industrial growth and
urbanisation in emerging economies. The
world is now entering a period of slower
growth in energy demand. Investments
in heavy industry and construction have
slowed markedly, particularly in China.
Demand growth in Europe and North
America is being slowed by efficiency
improvements.
208 G20 China: The Hangzhou Summit • September 2016 G7G20.com