Our commitment to sustainabilityEnergy efficiency

Securing energy supply

Spurred by recent large increases in the price of oil, the issue of security of supply is now at the top of the energy policy agenda. One reason for these price increases is the fact that supplies of all fossil fuels – oil, gas and coal – are becoming scarcer and more expensive to produce . The days of ‘cheap oil and gas’ are coming to an end. Today we consume around 4 times as much oil as we discover. When applying Hubbert's Peak to world oil production , experts estimate that approximately half of all oil that will be recovered, has been recovered, and oil production may reach a peak in the near future, or perhaps already has.

Today, we consume 4 times as much oil as we discover*

Reducing greenhouse gas emissions

An overwhelming consensus of scientific opinion now agrees that climate change is happening, is caused in large part by human activities (such as burning fossil fuels), and if left unchecked will have disastrous consequences. Furthermore, there is solid scientific evidence that we should act now. This is reflected in the conclusions, published in 2007, of the Intergovernmental Panel on Climate Change (IPCC), a UN institution of more than 1,000 scientists providing advice to policy makers. .

The Kyoto Protocol has committed its signatories to reduce their greenhouse gas emissions by 5.2% from their 1990 levels by 2008-2012. The Kyoto signatories are currently negotiating the second phase of the agreement, covering the period from 2013-2017.

Tapping the huge potential of energy efficiency

A multitude of technologies and behavioural strategies to increase energy efficiency are cost-effective and ready for use. Energy efficiency offers a powerful tool for achieving a sustainable energy future. Improvements in energy efficiency can reduce the need for investment in energy infrastructure, cut fuel costs, increase competitiveness and improve consumer welfare. Environmental benefits can also be achieved by the reduction of greenhouse gases emissions and local air pollution. Energy security can also profit from improved energy efficiency by decreasing the reliance on imported fossil fuels.

*Source: ASPO newsletter #89 - May 2008