Energy efficiency investments need to triple: IEA

Investments in improving energy efficiency must triple this decade if the world is to keep the goal of limiting global warming to 1.5 degrees Celsius (2.7 Fahrenheit) within reach, the IEA said Wednesday.

The investments would allow a doubling of annual gains in energy efficiency to four percent, resulting in a drop-in energy demand and fuel consumption that would benefit consumers and provide greater energy security to nations.

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The efficiency gains would "deliver vital reductions in greenhouse gas emissions and at the same time create jobs, expand energy access, reduce energy bills, decrease air pollution, and diminish countries' reliance on fossil fuel imports –- among other social and economic benefits," the International Energy Agency said in a report.