Dubai PR Network, Online Press Release from Dubai and Middle East
 
Business, Banking and Investments(Banking & Investments)
Filter PR by
  
New Survey Reveals Global Industry is Accelerating Investment in Energy Efficiency
 
New Survey Reveals Global Industry is Accelerating Investment in Energy Efficiency
• Global survey commissioned by ABB highlights current and future plans of companies to invest in energy efficiency to achieve Net Zero
• 90 percent will increase spending over the next five years while 52 percent plan to achieve Net Zero within the same period
• Growing impact of energy costs on profitability means that energy efficiency is receiving a higher priority, yet cost and downtime are major barriers to investment
 
Dubai, May 11, 2022: Global industry is accelerating its investment in energy efficiency in the next five years as the crucial race towards Net Zero intensifies, a new survey finds. The Energy Efficiency Investment Survey 2022 comes in the wake of a recent UN report calling for concerted action from countries to cut greenhouse emissions at a faster rate. 
 
The global survey conducted by Sapio Research targeted 2,294 companies in 13 countries, ranging in size from 500 to 5,000 or more employees. It offers the latest snapshot of how industries across the world are planning to invest in energy efficiency measures to achieve Net Zero. A key finding is that more than half (54 percent) of the companies are already investing, while 40 percent plan to make energy efficiency improvements this year. 
 
“Significant population and economic growth will accelerate climate change to a critical point if governments and industry don’t intensify their efforts. Growing urbanization and rising geopolitical tension will also make energy security and sustainability even more critical,” said Tarak Mehta, President of ABB Motion. “Improving energy efficiency is an essential strategy to address these potential crises. Therefore, the acceleration in investment highlighted by this survey is positive news.”  
 
Industrial motor-driven systems, in particular, hold huge potential for energy efficiency measures. Almost two-thirds of the survey respondents are upgrading their equipment to best-in-class efficiency ratings, such as high-efficiency electric motors controlled by variable speed drives.  
 
The report also highlights areas of concern. Half of the respondents listed cost as the biggest barrier to improving energy efficiency and 37 percent felt downtime was a barrier.  Also concerning is that only 41 percent of respondents felt they had all the information needed regarding energy efficiency measures. 
“It is vital to help stakeholders across industry understand that Net Zero need not mean net cost. Both suppliers and governments have a role to play in promoting the message that adopting energy efficient technology offers a fast return on investment while cutting CO2 emissions. The bottom line is that energy efficiency is good for business and good for the environment,” said Mehta.
 
More key learnings from the survey:
• Respondents reported that, on average, 23 percent of their annual operating costs are attributable to energy usage.
• Nine out of ten respondents indicated that rising energy costs are at least a minor threat to profitability, while more than half (53 percent) perceived it as a moderate or substantial threat.
• Despite cost being a significant barrier to investing in improving energy efficiency, cost savings were the most important reason for investing (59 percent).


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 4731 times
PR Category : Banking & Investments
Posted on : Wednesday, May 11, 2022  4:40:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Procter & Gamble Announces New Commitments and shares progre...
Next Story : Fashinza to Empower Apparel Manufacturing SMEs with AED 55 M...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Malabar Gold & Diamonds Unveils a Plethora of Jewellery Collections ahead of the Travel Se... [7134-Views]
Samsung Galaxy's New Competition will Make Nights Epic in the UAE [6843-Views]
Sail through the Summer Season with belif [6314-Views]
This Eid, Roll Out Happiness with Essence [5592-Views]
Wizz Air Introduces New Routes to the Kingdom of Saudi Arabia from Europe and the UAE [4850-Views]
Disney X Pandora: Born to Stand Out [4264-Views]
OMEGA Two Generations of OMEGA Explorers_UAE [4166-Views]
Get that Flawless Eid Selfie with CATRICE [4006-Views]
Dubai Municipality Wins British Safety Council award for Deep Tunnel project [3961-Views]
Tanishq Goes Traditional and Contemporary in Karama [3870-Views]
Natuzzi Italia Presents the New Collection THE CIRCLE OF HARMONY - Second Life [3866-Views]
Dubai Municipality Enhances Abattoir Services in Preparation of Eid al Adha [3719-Views]
Malabar Gold & Diamonds Announced Sparkling Summer Offers [3600-Views]
Ajmal Perfumes Exquisite Musk Collection – The Musk Silk Supreme [3563-Views]
Just Wing It and Win at the Huddle Sports Bar and Grill [3542-Views]
InterContinental Hotels & Resorts Unveils Limited-Edition Suites in Collaboration with Lea... [3423-Views]
Infracorp Reports $6.2m Profit in Q1 2022 [3198-Views]
CSD Announces ‘Their Safety First', A Comprehensive Year-Round Child-Safety Awareness Camp... [3157-Views]
Introducing GRAFFABULOUS [3063-Views]
Mahzooz Grand Draw Celebrates AED 10 Million Winner! [3042-Views]
Souk Al Marfa Displays Rare and Historic UAE Antiques in Newly Opened Museum Hub [3022-Views]
More than 300 Students to Showcase Their Talents during Mawhibaty's Season-Ending Exhibiti... [3018-Views]
Dubai Shopping Malls Group DSS 2022 Celebrations: Everything You Need to Know [2972-Views]
TCL Joins Hands with Retail Giant Jashanmal to bring Top-of-the-Range Home Appliances in G... [2915-Views]
Dubai Health Authority Introduces Value-Based Healthcare for the Emirate [2821-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories