Just open any news service these days and you are confronted with more evidence that we have no choice but to significantly do more to mitigate greenhouse gas emissions. Daily we are reading about fires, floodings, droughts, heat waves, whatever. Naturally, these cannot all be attributed to climate change but there is enough evidence for us to take action.
We, in the energy efficiency community, are trying to create more awareness of the importance of greater energy efficiency. We are trying to better understand consumer needs. We are trying to remove barriers to ensure that the market works more effectively and more ambitiously to reduce those emissions.
So, the 1970 song from Paul Simon (of Simon and Garfunkel fame) is an appropriate one to set the mood. As you read this blog, let that music provide the space you need to take the next steps (check out the late Aretha Franklin’s version). In the investor community, you are fundamental to our mitigation efforts. Think of these words:
"I'm on your side, oh, when times get rough. And friends just can't be found, like a bridge over troubled water. I will lay me down, like a bridge over troubled water, I will lay me down"
We need you in the investor community to sing these words – and more.
Right now the Investor Confidence Project, a project funded by the European Commission, is trying to bring those words to life. It is well documented that many energy efficiency measures are not undertaken because of a lack of standardisation – of the process. Yes, that process is the relationship between the asset owner (the business) and the project developer (often an energy service company or an engieering firm).
There are many factors that influence decisions and action. The Investor Confidence Project is there to remove many of the complications and risks in improving the energy performance in industry, street lighting and energy supply. ICP has developed – and is now testing – a standardised approach.
ICP brought to Europe to develop a system to give confidence to all active stakeholders. There are still concerns that investing in energy efficiency is risky. ICP is designed to change that. ICP started with investments in buildings and is now broadening the scope to include industry, energy supply and street lighting through a two-year project.
While working with all stakeholders, investors are key. The ICP Europe Investor Network is comprised of energy efficiency investors who recognise the benefit of industry best practice and standardised energy renovation project delivery. Members of the Network support the use of the ICP Protocols and Credentialing System because these systems increase confidence in project performance while reducing due diligence-related transaction costs.
Convened by the Investor Confidence Project (ICP) and hosted by GRESB Global Partner CBRE, the Investor Days Workshop on September 11th in London will debate the future standards for energy efficiency investments in buildings and infrastructure assets in Europe.
You can be that bridge
We do live in troubled times. We need the investor community to be fully engaged. This is not something that can be left to someone else. Whether it be an asset owner or a project developer, they cannot do it alone. Financing plays too valuable a role.
We need you to be that bridge over troubled waters. Now.
Do not forget...
For more information about ICP and the upcoming training, please contact me, Rod Janssen, at rod.janssen(at)ee-ip.org.
By Rod Janssen on ICP Europe:
- You've got a friend.
- Finding your own energy transition.
- Why we need and take training.
- Next steps in financing energy efficiency improvements in Europe's industry and energy supply.
Stay tuned! Best ideas for energy efficiency and energy transition...
About Rod Janssen
Rod Janssen is the President of Energy Efficiency in Industrial Processes (EEIP). Rod is also member of various Steering Groups and boards such the ICP Europe Steering Group, the SEIF advisory board and the board of ECEEE.