According to a recent report by E3G, energy efficiency could be a significant driver of growth and job creation, but it will require more support from governments if it's to make a difference.
The report cites the benefits of improving energy efficiency of both industry and homes as economic productivity and growth, resilience against oil price shocks, reductions in carbon emissions and job creation.
Whilst governments have for years acknowledged the importance of prioritising the green agenda, the regulatory frameworks to create and sustain demand from businesses, industry and homeowners aren't yet in place to catalyse change. Despite evidence that mandatory carbon emissions reporting provides both financial and environmental benefits, the decision on this has been further delayed ahead of the Rio+20 summit.
With pressure building in the lead up to the summit this summer, the report urges governments to lead by example and realise the economic, financial and environmental opportunities in doing business sustainably.