Nationwide study ranks key barriers companies face in achieving energy efficiency
Barriers include high cost of technologies, low availability of efficient products, lack of market accessibility, and a limited understanding of electricity and water subsidies
Highlighted in a report sponsored by Farnek and Grundfos, the study found that among other barriers, the private sector primarily faced issues related to the high costs of energy efficient technologies (37 percent), the low availability of efficient products (34 percent), and a lack of market accessibility (27 percent). Another barrier identified by a quarter of the respondents is a limited understanding of electricity and water subsidies (25 percent).
Commenting on the report findings Tanzeed Alam, Climate & Energy Director of EWS-WWF said: “As the UAE scales up its efforts to tackle climate change, companies are increasingly taking responsibility for their role in reducing emissions. However, it is evident from our study findings that more needs to be done to address the barriers faced by businesses in energy and water efficiency as there remains a large portion of unrealized energy efficiency opportunities within the private sector.
I recommend that CEOs in businesses, UAE utility companies and policy makers in the energy and water sector take heed of the findings in this report and act now to support the country’s transition to a low-carbon economy.”
EWS-WWF commissioned the survey to accelerate the take-up of energy and water efficiency in the private sector to reduce the country’s carbon emissions and tackle climate change. The report results are the first statistically representative survey of the private sector on energy and water efficiency, covering 363 companies across Abu Dhabi, Dubai and Sharjah.
Alam added: “COP21 in Paris signaled that the world wants to limit global temperature increases to 1.5°C. Keeping to 1.5°C reduces our risk of experiencing future increases in humidity, precipitation and salinity in the Gulf. However, tackling climate change needs all members of society to play an active role – including the business community.
The solutions to the barriers highlighted in the survey require the collaboration between both the private sector and government bodies in order to drive energy efficiency and reduce emissions. With the development of the right framework, incentive schemes and programmes, we can help break down these barriers and begin our journey towards energy and water efficiency.”
On the heels of this research, EWS-WWF will continue to advance initiatives that reduce the UAE’s carbon emissions. These include further investigating the three main barriers highlighted by the survey through topical research and developing financial solutions to encourage consumers and businesses to take up renewable and energy-efficient technologies.