The cheapest energy is the energy we don’t use.

Energy efficiency remains one of the most powerful and cost-effective tools in the global transition to a low-carbon future. By using energy smarter, countries and companies alike can reduce emissions, strengthen competitiveness and improve energy security.

This was again emphasised yesterday, as the 10th Annual Global Conference on Energy Efficiency opened in Brussels, hosted by the International Energy Agency (IEA) and the European Commission. The event brings together ministers, business leaders and experts from nearly 100 countries to accelerate global efforts in improving energy use across sectors.

At COP29, energy efficiency was identified as one of the most impactful and affordable pathways to cut emissions. And as we look ahead to COP30, the need to prioritise energy efficiency is clearer than ever.

A united commitment from global industry

In a joint CEO commitment letter, representatives from 18 major companies pledged to strengthen industrial energy efficiency efforts as a key lever for decarbonisation, productivity and competitiveness.

The commitment, launched as part of the International Energy Agency’s flagship event on 12-13 June 2025, underlines the growing role of the private sector in supporting international climate and energy goals. The letter outlines three core priorities: promoting the business case for energy efficiency technologies, positioning efficiency as a driver for industrial and economic performance, and applying an energy-efficiency-first principle to enhance energy security and affordability.

Signatories include Danish and international companies such as Danfoss, ROCKWOOL Group, Grundfos, VELUX, and Topsoe, alongside global peers from Schneider Electric, Siemens Energy, Alfa Laval, and Trane Technologies. The commitment has been made in partnership with The Energy Efficiency Movement.

The letter reflects a growing recognition among business leaders that energy efficiency is not only an environmental imperative – it is also sound economics.

Danish lessons in energy efficiency

In Denmark, decades of focused policy and public-private collaboration have demonstrated what’s possible. Since 1990, industrial energy intensity has dropped by 50 percent, while state institutions have reduced energy use by 18 percent between 2006 and 2022.

These results show that continuous improvements in energy efficiency can deliver both climate and economic benefits – especially when backed by a strong strategic framework.