Europe : Green Paper
According to the Green Paper on Energy Efficiency, published June 22, 2005 by the European Commission, the European Union could save at least 20% of its current energy consumption by 2020, equalling EUR 60 billion per year. Estimations indicate that, if current trends continue, EU consumption - which is currently 1725 Megatons of oil (Mtoe) per year - will reach 1900 Mtoe by 2020. The objective is thus to arrive at the consumption levels recorded for 1990, i.e.1520 Mtoe. The paper places energy efficiency as a key element of the EU's objectives by boosting the European economy and creating new jobs.