CLIMATE CHANGE ENERGY EFFICIENCY
The First Fuel: Why energy HIƓFLHQF\VKRXOGEHWKHƓUVWVWRS on our path to Net Zero (QHUJ\HIƓFLHQF\LVWKHƓUVWIXHOŊWKHIXHO\RXGRQRWKDYHWRXVHŊDQGLQWHUPV of supply, it is abundantly available and cheap to extract. However, demand for WKHƓUVWIXHOQHHGVWRJURZDQGWKDWōVZKHUHSROLF\DFWLRQPDWWHUVWKHPRVW 'HVSLWHLWVLPPHQVHSRWHQWLDOHQHUJ\HIƓFLHQF\UHPDLQVDQRYHUORRNHGDQG underutilized solution for decarbonizing the global housing stock. Nye Gordon discusses how, by reducing waste, improving building performance, and PLQLPL]LQJWKHQHHGIRUHQHUJ\JHQHUDWLRQDQGLQIUDVWUXFWXUHHQHUJ\HIƓFLHQF\ offers an unparalleled opportunity to meet ambitious climate goals while addressing energy equity and security.
T he scale of the Net Zero challenge is immense. Globally, residential buildings are responsible for nearly one-fifth of energy-related greenhouse gas emissions and poorly insulated homes exacerbate the emissions impact of the fossil fuelled generation, while imposing significant economic costs on their occupants. During the global energy crisis, governments spent close to $940 billion on short-term measures to shield households from surging energy prices, with $535 billion spent at
the crisis’s peak in 2022. Despite this spend, millions of households remain at risk due to energy-ineffi- cient homes, leading to higher energy bills, poorer health outcomes, and a significant, ongoing strain on public resources. The disparity in progress across regions underscores the need for systemic action. While the USA charged ahead from 2020, powered by the Inflation Reduction Act, Europe has fallen behind due to an inability to fund both efficiency investments and crisis interventions. Differences in rollout are also seen at a micro level, with certain populations or geographies in advanced economies locked out of the energy transition, and thereby unable to access the economic and resiliency benefits that flexibility can provide, due to older or poorly built housing stock. The uneven distribution of advancements reflects the complex and interconnected nature of this challenge, requiring a systemic approach to overcome historical issues
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THE FUTURE OF ENERGY
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