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Efficiency must be focus of national climate plans and energy policy, business says
Global business urges governments to make efficiency a core pillar of the energy transition and set an actionable roadmap to deliver the COP28 goal of doubling efficiency gains by 2030.
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Business is calling on governments at COP31 in Antalya, Türkiye, to elevate energy efficiency to a core pillar of the global energy transition. The call comes as the world falls well short of the 4% a year efficiency pledge made at COP28 in Dubai – improving only roughly 1.8% in 2025. On behalf of over 45 million companies, ICC is calling on governments to move from targets to delivery, with an actionable roadmap backed by clear policy signals and investable projects.
According to the International Energy Agency (IEA), efficiency and electrification together could deliver more than one-third of the emissions reductions required by 2030. Efficiency stands out today as one of the fastest and most cost-effective opportunities for business and households to reduce emissions, stabilise energy costs, and strengthen resilience and operational performance.
Alongside the call, ICC has published 10 principles that governments can draw on for a secure, affordable and competitive energy transition. The principles back the ambition of the incoming COP31 Presidency and several countries to raise electricity’s share of global final energy use from just over 20% to around 35% by 2035. That shift only works if the whole energy system keeps pace. Efficiency is what makes it possible: it frees up grid capacity, cuts peak demand and gets more from existing assets while new generation, grids and storage are built – and it keeps electricity affordable enough for businesses and households to switch.
Increasingly, technology is not the obstacle. In many sectors, high-efficiency solutions are already commercially available and cost-effective. Yet around half of countries still lack basic efficiency standards for new buildings and about two-thirds have no mandatory standards for industrial motors.
Business points to weak policy frameworks, limited access to finance, skills shortages and market conditions as the real barriers.
Business sets out three priority actions for government at COP31
- Make energy efficiency a core pillar of the global energy transition agenda and accelerate delivery of the COP28 energy-efficiency target.
- Strengthen Nationally Determined Contributions (NDCs) and national strategies to provide clear and credible policy signals for energy efficiency investment.
- Use public instruments, incentives and partnerships to catalyse private investment, efficient capital allocation and optimise risk distribution.
COP31 provides a critical opportunity for governments to turn energy-efficiency commitments into concrete action, unlocking significant economic, social and climate benefits. Global business stands ready to work with governments to accelerate progress, mobilise investment and make energy efficiency a cornerstone of the energy transition.
ICC is committed to securing what business need at the Conference of the Parties (COP) climate negotiations. Learn more about our Opportunity of a Lifetime climate campaign and how to get involved.
