A whole host of companies have called on the EU to deliver 2030 energy efficiency goals that would bring forward large scale investments that could slash fuel spending.
Indeed, Siemens, Philips and Kingspan are among a group of major firms urging the EU to embed binding energy savings targets within its Energy and Climate Roadmap.
A vote on the strategy is set to take place later today (January 24th). It will vote on an opinion report concerning the EU Energy Roadmap 2050, which will consider competing ways to deliver carbon reduction, as well as sustainable economic growth across the bloc, Business Green reports.
In an open letter, the companies argue that widespread deployment of energy efficiency measures could cut up to €1.4 trillion (£1.1 trillion) from annual global fuel expenditure by the end of the decade.
They also predict that a further €937 billion to €1,873 billion of investments in power production infrastructure could be saved with increased investment in energy efficiency.
This has been sent under the jurisdiction of the European Alliance to Save Energy (EU-ASE), which also includes members such as Danfoss, Schneider Electric and Knauf Insulation.
President of the EU-ASE recognised the need for a stable policy in place and stated that the report would "give a strong signal" to the EU.
"Energy efficiency must be recognised by the European Parliament as the single most cost-effective means of achieving the Roadmap goals," she continued.
It is hoped that with a unified direction more companies will look at better ways to integrate energy efficient ceiling lights into their businesses as a way of saving money.
Indeed, Rezidor announced last year that it would be installing LED lights to switch with traditional incandescents in over 300 of its chain hotels throughout the world.
This was part of the company's Think Planet plan aimed at reducing their energy consumption by 25 per cent in the next three years.
