ABB Calls on Governments & Industry to Accelerate Technology Adoption to Combat Climate Change
Through a whitepaper, ABB, the global tech giant reveals potential areas of significant energy efficiency improvements in industry and infrastructure enabled by the latest and most high-efficiency motors and variable speed drives. It calls on governments and industry to accelerate adoption of the technology to help combat climate change.
According to the International Energy Agency (IEA), industry accounts for 37 percent of global energy use and some 30 percent of global energy is consumed in buildings.
It’s no secret that the motor and drive technologies have seen exceptionally rapid advancement in the past decade, with today’s innovative designs delivering remarkable energy efficiencies. But that’s not the complete story. ABB warns that a significant number of industrial electric motor-driven systems in operation today – in the region of 300 million globally – are inefficient or consume much more power than required, resulting in monumental energy wastage.
According to the whitepaper by the company, an independent research estimates that if these systems were replaced with optimized, high-efficiency equipment, the gains to be realized could reduce global electricity consumption by up to 10 percent. In turn, this would account for more than 40 percent of the reduction in greenhouse gas emissions needed to meet the 2040 climate goals established by the Paris Agreement.
Commenting on these published facts, Morten Wierod, President, ABB Motion, said, “Industrial energy efficiency, more than any other challenge, has the single greatest capacity for combatting the climate emergency. It is essentially the world’s invisible climate solution. For ABB, sustainability is a key part of our company Purpose and of the value that we create for all of our stakeholders. By far the biggest impact we can have in reducing greenhouse gas emissions is through our leading technologies, which reduce energy use in industry, buildings and transport."
ABB warns that a significant number of industrial electric motor-driven systems in operation today – in the region of 300 million globally – are inefficient or consume much more power than required, resulting in monumental energy wastage
To take advantage of the tremendous opportunities afforded by energy efficient drives and motors to reduce greenhouse gas emissions, ABB says all stakeholders have a critical role to play:
• Public decision makers and government regulators need to incentivize their rapid adoption,
• Businesses, cities, and countries need to be aware of both the cost savings and environmental advantages and be willing to make the investment, and
• Investors need to reallocate capital towards companies better prepared to address the climate risk.
“While our role at ABB is to always provide the most efficient technologies, products and services to our customers, and continue to innovate for ever greater efficiency, that in itself is not enough. All stakeholders need to work together to bring about a holistic transformation in how we use energy. By acting and innovating together, we can keep critical services up and running while saving energy and combatting climate change”, concludes Morten.