In this paper, the Transforming Energy Demand initiative outlines actions for businesses and countries to enhance energy management, efficiency and carbon intensity reduction. It highlights commercially beneficial levers, implementable with existing technologies, to impact the transition significantly.
Adopting measures for energy-efficient output and service delivery is essential for businesses and countries to sustain economic growth and achieve net-zero goals.
As the global population and energy demand rise, particularly in developing markets, implementing public policies and fostering value chain collaborations are key to managing energy consumption and reducing carbon intensity. This will help mitigate energy costs and supply issues and unlock commercial benefits, thereby accelerating the transition. At COP28, over 120 countries committed to doubling the pace of energy efficiency improvement, necessitating concrete, realistic plans.