BAKU, Azerbaijan, March 28. Energy consumers need to change demand pattern, Stephanie Pfeifer, CEO, Institutional Investors Group on Climate Change, said during the International Energy Agency (IEA) ministerial, Trend reports.
“There is a consensus that we really need to deal with the current crisis in Ukraine, but it is also critical that we keep sight of those longer term net zero goals. The number one ask was that we have very clear regulatory framework and policy signals that absolutely key to drive more investment into mature technologies, but also the less mature technology. We need price signals, global carbon prices, carbon border adjustment mechanisms as well. We need to focus not only on generation, but also on demand. We need policy signals so that consumers also change the demand pattern, that we have energy efficiency, that we move to hit promises and so on,” she said.
Pfeifer pointed out that there is a need for building standards.
“Regulatory environment is absolutely critical for companies who shift their behavior, but also investors. There is huge need for opportunities of investing in clean technologies in emerging markets in developing countries. There is also need for blended finance mechanisms to really bring private and public sector money together. There is a need for much more collaboration between policy-makers, companies and investors,” she added.
---
Follow the author on Twitter: @Lyaman_Zeyn