Energy efficient production can promote stability and reduce energy consumption, according to a report released Wednesday by the Eurasian Development Bank and EY (formerly Ernst & Young).
The information is based on changes in energy efficiency for industrial sectors of Russia, Belarus, Kazakhstan and Ukraine, along with separate enterprises in these countries. Energy and resource production or extraction proved to be the highest consumer of energy. The report also included examples of successful projects that aimed to lower consumption.
Data shows that the energy intensity of GDP in all of the countries in the study lagged behind global averages.
Approximately 90 percent of the companies that were surveyed had plans to reduce energy usage over the next five years.
“The main peculiarity of our report is that it is practical and focused on the real sector and that it provides many examples of completed projects,”Vladimir Yasinsk, a member of the Management Board and managing director for research at EDB, said.