11 companies sign Energy Efficiency Declaration
The Energy Chamber has developed an Energy Efficiency Declaration, recognising the role of energy efficiency in developing the economy and reducing Trinidad and Tobago’s greenhouse gas emissions.
So far, 11 companies have pledged their commitment, but the energy Chamber hopes the declaration will be embraced and adopted by its membership and the wider nation.
The Chamber is of the view that energy efficiency is one of the immediate and impactful ways of optimising the use of T&T's finite natural resources.
"Energy efficiency measures and initiatives will be crucial for the initial reduction of greenhouse gas emissions. Getting the industry to best in class levels of efficiency is the equivalent of unlocking a marginal field’s worth of gas. While some options may be more costly than others, collaboration across the sector presents opportunities to reduce costs and identify opportunities," the Chamber explained.
The overall benefit to the economy is an improved reserves to production ratio, jobs, lower emissions and increased levels of foreign exchange, the Chamber added.
The following member companies have already expressed their commitment to the Energy Efficiency Declaration:
BHP Trinidad and Tobago
EOG Resources Trinidad
Shell Trinidad and Tobago Limited
The National Gas Company of Trinidad and Tobago
Methanol Holdings (Trinidad) Ltd.
Methanex Trinidad Limited
Yara Trinidad Limited
The signatories to the Declaration will endeavour to increase the levels of energy efficiency and conservation in their facilities, natural gas utilisation, electricity generation and electricity consumption, and transportation.
The signatories to the Declaration further commit to working collaboratively with the Energy Chamber, other stakeholders in the sector and with the government and international community to ensure that the necessary policy and regulatory environment is in place to encourage investment in energy efficiency and other greenhouse gas reduction activities; and report annually to the Energy Chamber on the actions taken to improve energy efficiency and decrease greenhouse gas emissions from their companies’ activities.