As the world’s nations and global businesses gather at COP24, Julia Panzer, Head of Public Affairs & Sustainability at EP100 member Danfoss, tells The Climate Group why energy productivity is key to decarbonizing the economy.

Why is energy productivity important and what opportunities do you see in this space?

“Energy productivity is a pre-condition for the decarbonization of our energy systems. After all, the cheapest, cleanest, and most secure form of energy is the one we don't use.

“But it's also essential for the ramp-up of renewables. That's why energy efficiency measures are a cost-effective way to support the shift to a low-carbon economy and, in the process, boost investment, growth, and employment opportunities around the world.”

Why is it important for Danfoss to be a member of EP100?

“At Danfoss, we take the lead when it comes to engineering talk into action. Through joining EP100, we’ve committed to doubling our energy productivity before 2030, from a 2007 baseline. As of today, it looks like we will reach this target 10 years ahead of time.”

“EP100 leverages the potential of businesses to be their very best when they are held accountable to ambitious targets.”

What are your achievements so far?

“We started by looking at our buildings and processes. We have a strong focus on energy savings in our 27 largest sites, which account for 85% of our total energy consumption. The cost savings stem from energy savings on heating, cooling, ventilation and lighting.

“And as it looks right now, we've already achieved an energy productivity improvement of 77% since 2007 and we expect to reach 100% by 2020. We invested €24.1m EUR in the global energy savings project and save €8.6m EUR annually on our energy bill. The next step is to invest more and achieve even further energy savings in our buildings. Looking at the lifecycle, it's a really good return on investment over the time.”

“Right now, we're aiming at reducing our global consumption of both electricity and heating by at least 30% before the end of 2019, from only working with energy consumption from our building stock. We expect to reach this target within the payback time of 3 years.”