Energy labels are the start of transforming a market

I have been involved in developing the EU Energy Labelling scheme since 1992

I live in Hong Kong now, and China borrowed the same framework for its energy label in 2005 and Hong Kong followed in 2008.

But right now, Im in Sri Lanka, and although Sri Lanka has its own energy label (which is much more like the US label), because Sri Lanka buys its energy using equipment from Europe, the EU energy label is still very much in evidence.

COP28 committed to increasing the rate of energy efficiency improvement from 2% p.a. to 4% p.a. If this is to be achieved, then energy labels are key:

• First they need to be applied to as many product categories as possible
• Second the test protocols need to be robust
• Third labels need enforcement
• Fourth retailers and consumers need help to understand the financial benefits of investing in more efficient products so it becomes part of the purchasing decision
• Fifth the label is just the start. When you have no information you have no market. Once you have a label you have a market. Then taxes for the worst and incentives for the best can steer that market. Later minimum standards can eliminate the worst.

This is how we achieve “Market Transformation”. This is how COP28 ambition for energy efficiency can be achieved.