If the world wants to reduce carbon emissions, energy efficiency is a must, said Jean-Pascal Tricoire, CEO of Schneider Electric, a global leader in energy management, here Wednesday.

As a convene of the working group on energy efficiency for G20 Business Summit, Tricoire said his group believes improving energy efficiency is the best way to ensure energy security, limit greenhouse gas emissions, and insulate economies from the volatility of energy prices.

With global energy demand set to double before 2050, energy efficiency is becoming a top priority. However, there are challenges and obstacles to promote energy efficiency.

According to an IEA report, global energy demand is forecast to increase about 40 percent between 2007 to 2030 as a result of urbanization and industrialization.

Growth still depends on primary energy consumption in some developing countries. Coordinated actions and large investment are needed in energy efficiency are needed to reduce energy usage, said a discussion report by the working group.

"Energy efficiency does not mean big investment. It could be a small investment," said Tricoire.

The working group proposed several short-term, "no regret" actions for the private sectors so that significant improvements can be made with relatively small investments. The proposed actions include providing leadership from the top, investing in necessary knowledge, extending awareness and establishing right measurement of energy consumption.

Government also plays a role in encouraging energy efficiency through policies and providing support for companies to upgrade their technologies and push forward towards breakthrough technologies, Tricoire said.

In this regard, the governments are advised to establish clear, consistent standards, develop long-term energy policies, provide new financing solutions and support education, energy services.

"Everyone should learn to be energy efficient," said Tricoire." Governments and companies should provide people with education and training on energy efficiency." He said Schneider Electric Energy University offers online courses in energy efficiency and 20,000 people receive training daily.

At the conclusion, the working group's report said companies have to embrace energy efficiency with courage, clarity and a sense of urgency, while long-term investment has to be solved if the world is to limit energy consumption and keep greenhouse gases in check.