Tuesday, November 15, 2016

Acceleration of energy efficiency implementation in industry as solution to climate and competitiveness challenges

The world's manufacturing industry is responsible for about one-third of total GHG emissions and includes the highest carbon-emitting sectors - the production of iron and steel, aluminum, chemicals and cement. A report published by The World Bank Group A Greener Path to Competitiveness provides recommendations and guidance on how companies and countries can stay competitive while implementing more climate-friendly technologies and strategies.

Recent studies have identified strong realization of energy efficiency across the industrial sector, with an estimated 40 percent of realized energy efficiency having been already achieved. However, as figure below shows, still economic potential around 60 percent remains for future energy efficiency savings.

Best practices  such as retrofitting existing plants with low-cost, quick-payback energy efficiency measures, as well as using the best available technology in the construction of new plants are among the most obvious solutions. Global policies that require competitors around the world to simultaneously implement green measures can help level the playing field and reduce any potential risks to competitiveness. Beyond energy efficiency, decarbonization strategies such as carbon capture and storage can also be deployed to reduce the industrial sector’s carbon footprint. Read more at http://www.worldbank.org