Almost twenty years from the heady days of the Rio summit, it is certainly clear that energy efficiency is inextricably linked to environmental progress in addressing climate change. The tremendous surge in developing country (e.g. Brazil Russia India and China) stock markets makes it equally clear that any efforts to slow growth in developing markets are misguided.
Global adoption of GHG emissions rate based standards as a basis for gauging compliance with global climate change commitments will accelerate the implementation of energy efficiency and eco efficiency programs at companies, and the adoption of cleaner technologies.
The last 20 years have shown that increasing energy efficiency is compatible with sustained technology development in virtually every industry. It stands to reason that the financial value of these programs, on a global basis, will be magnified substantially by global adoption of energy efficiency and GHG emission rate reduction goals by nation-states signing a new successor to the Kyoto protocol.
Rather than bemoan the end of the Kyoto protocol, we should look forward to the new opportunities that will emerge from a new emissions rate protocol for controlling GHGs, and an even stronger, more global competition to reduce GHG emission rates and increase energy efficiency among countries and companies.