Report Reveals Path to Save 11% of Global Emissions by 2030, Unlocking $437 Billion in Savings

Report Reveals Path to Save 11% of Global Emissions by 2030, Unlocking $437 Billion in Savings

(IN BRIEF) In anticipation of COP28, the Energy Efficiency Movement (EEM) has released a groundbreaking report titled “The Case for Industrial Energy Efficiency.” This report offers a clear roadmap for industries to achieve an impressive 11% reduction in global emissions by 2030, while simultaneously unlocking cost savings of $437 billion. The key highlight of the report is its identification of ten mature, scalable energy efficiency actions that do not rely on new technologies or policy changes but promise substantial emission reductions. These actions are categorized into three pillars: establishing an efficiency foundation, driving efficiency returns, and gaining efficiency insights. Supported by global industrial leaders such as Alfa Laval, ABB, and Microsoft, the report underscores the pivotal role of energy efficiency in meeting the Paris Agreement goals. One example highlighted in the report is the potential to save up to 2.5% of global carbon emissions through the proper maintenance of heat exchangers, which are widely used across various sectors. The report emphasizes that immediate action is crucial for meeting emission reduction targets, and energy efficiency is a critical factor in achieving these goals, making it industry’s greatest ally in the coming decade.

(PRESS RELEASE) LUND, 25-Oct-2023 — /EuropaWire/ — Ahead of COP28, a new report gives industries a roadmap to save 11% of global emissions by 2030 while saving $437 billion along the way. The report, named “The Case for Industrial Energy Efficiency” published by the Energy Efficiency Movement (EEM), outlines ten key actions that does not require new technologies or policy decisions, but promise to save emissions.

The Case for Industrial Energy Efficiency in short:

• 10 mature, scalable energy efficiency key actions can deliver 4 gigatons of carbon savings annually (11% of total emissions) by 2030.
• Actions also show energy efficiency’s financial upside: annual cost savings of $437 billion by 2030.
• Published by the Energy Efficiency Movement and supported by leading global industrial players including Alfa Laval, ABB, and Microsoft.

The ten key actions of the report could be put into practice today to reduce carbon emissions, and almost half of the emissions savings could be achieved by 2025. The actions are divided into three pillars: Building an efficiency foundation, Driving efficiency returns, and Gaining efficiency insights. Each action has been individually quantified in terms of carbon savings and financial benefits.

“Energy efficiency is crucial for meeting the Paris Agreement on time and the industry plays a major role in making it happen. There is an urgent need for immediate response and action, and this EEM report visualizes key actions to save energy and reduce emissions already today,” says Thomas Møller, President of Energy Division, Alfa Laval.

One example of Alfa Laval’s contribution to The Case for Industrial Energy Efficiency concerns energy efficient heat exchangers.

Key action no. 7 – Maintain efficient heat exchangers.

Heat exchangers are used widely across the commercial and industrial sectors, in areas such as building heating and air conditioning, refrigeration, and data center and fuel cell cooling, yet they are rarely maintained adequately.

On this action, the report states that:

• Up to 2.5% of global carbon emissions can be saved just by maintaining and regularly servicing heat exchangers.
• New heat exchangers can be up to 25% more efficient than old ones.
• The replacement of obsolete heat exchangers in industrial and commercial settings could save between 136 and 339 MtCO2 a year.

The Energy Efficiency Movement joins stakeholders together across many sectors and Alfa Laval has been an active member since the start.

“This is our contribution to the upcoming COP28 discussions that will be looking at solutions on net zero targets. The IEA has said that net zero will require a doubling of the rate of progress on efficiency and a tripling in annual efficiency-related investment. To that end, we are furnishing executives with data and insights to help build their companies’ business cases for energy efficiency improvements,” said Mike Umiker, managing director, Energy Efficiency Movement. “The report demonstrates how investments in efficiency can serve as a valuable hedge against energy and carbon price volatility, while making a true, needle-moving impact on emissions. Energy efficiency is industry’s biggest emissions ally this decade.”

Editor’s notes

About Energy Efficiency Movement
The Energy Efficiency Movement is a forum that brings together like-minded stakeholders to innovate and act for a more energy-efficient world. Through innovation, the sharing of knowledge and insights, adoption of available energy-efficient technologies, smart investments and the right regulations and incentives, we can optimize energy efficiency and accelerate progress toward a decarbonized future for all. The Movement was launched by ABB in 2021 and has received a positive reaction throughout industry, with more than 400 companies joining as of 2023. www.energyefficiencymovement.com

This is Alfa Laval
Alfa Laval is a world leader in heat transfer, centrifugal separation and fluid handling, and is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress to support customers in achieving their business goals and sustainability targets.

Alfa Laval’s innovative technologies are dedicated to purifying, refining, and reusing materials, promoting more responsible use of natural resources. They contribute to improved energy efficiency and heat recovery, better water treatment, and reduced emissions. Thereby, Alfa Laval is not only accelerating success for its customers, but also for people and the planet. Making the world better, every day.

Alfa Laval has 20,300 employees. Annual sales in 2022 were SEK 52.1 billion (approx. EUR 4.9 billion). The company is listed on Nasdaq Stockholm.

www.alfalaval.com

Media Contact:

Madeleine Gilborne
Head of Clean Technologies, VP Energy Division Alfa Laval
Mobile: +46 730 69 96 67
madeleine.gilborne@alfalaval.com

SOURCE: Alfa Laval