GFEI urges accelerated action on fuel economy policy at Climate Summit talks
The Global Fuel Economy Initiative took part in a high level event focusing on accelerating key areas of the UN's Sustainable Energy for All (SE4ALL) energy efficiency programme on 22 September ahead of the UN Climate Summit.
GFEI Executive Secretary and FIA Foundation Director of Environment and Research Sheila Watson, joined a range of high level panelists focused on the need for urgent implementation of the SE4ALL agenda on energy efficiency, during a session moderated by Achim Steiner, Executive Director of UNEP.
Sheila Watson said: "With the political will of many more countries to realise the savings which greater fuel economy can offer there is no reason why we shouldn't stabilise emissions even from a massively increased fleet. The key is to develop capacity and share best practice with the countries which face this challenge. Between now and 2050, $400 trillion will be invested on fuels and vehicles. GFEI has been focusing on how we can harness the power of this investment, but our window of opportunity to really make a difference is closing, and we must use the political momentum offered by the Accelerator process to together now."
Also taking part in the Investing in Energy Efficiency panel alongside Sheila Watson were Rasmus Helveg Petersen, Minister for Climate, Energy and Building, Denmark, Ignacio Santelices, Director of Energy Efficiency Division in the Ministry of Energy Chile, Xu Youfang, President of Jinan Steel Group, China and Maria Barabara Botello Santibáῇez, Mayor of Leon, Mexico.
The session covered a range of other priorities including renewable energy, scaling up country level implementation, and financing issues. SE4ALL presented a plan alongside commercial banks and development banks, to raise $120bn for sustainable energy. Chad Holiday, Chairman of the Bank of America and Kandeh Yumkella, CEO, Sustainable Energy for All closed the session.