Energy Efficiency Key to Bigger Market Share, Pachauri Says

Countries that can achieve high levels of energy efficiency through developing technologies that will be able to grab a bigger share of the market for low-carbon electricity, a climate scientist said.

“Whatever you say, the world will move in the direction of low carbon growth development and low greenhouse gas emissions,” Rajendra Pachauri, chairman of the United Nations’ Intergovernmental Panel on Climate Change, said today.

“Those countries which are able to visualize the potential of technologies, processes and products that essentially will move in the direction of higher energy efficiency, then clearly those are the countries, those are the companies that are likely to get a much larger market in the future,” he said in a group interview in Yokohama, which is south of Tokyo. He said Japan has a “huge opportunity.”

Pachauri’s comments came as scientists and climate change officials representing more than 100 countries gather in Yokohama to wrap up the second part of a report on climate change for IPCC. The document will be published March 31.

Before it's here, it's on the Bloomberg Terminal.