Energy Matters

Best.Energy Kenya pioneers energy efficiency at Business Leaders’ Roundtable

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partnersJul 5, 2024

As our leading Master License holder, Best.Energy Kenya is a role model global Partner pioneering energy efficiency in Kenya. In May, the team attended the International Energy Agency Business Leaders’ Roundtable discussion in Nairobi, forming part of the 9th Annual Global Conference on Energy Efficiency.

For the first time ever, this esteemed event was held on African soil, recognising Kenya’s position as a driving force in Africa’s energy efficiency agenda. Since the introduction of the Kenyan National Energy Efficiency Conservation Strategy, Kenya has been leading the charge in energy efficiency. And Best.Energy Kenya sits proudly at the heart of this movement as a thought leader, making the Business Leaders’ Roundtable an unmissable event for CEO, Faraaz Charania, and his team.

Faraaz Charania at the roundtable event

Key discussions and takeaways

Joined by business leaders from across the globe, the Energy Efficiency Movement, Kenya Association of Manufacturers, and the International Business Council from the World Economic Forum held discussions on key energy efficiency topics.

During the roundtable event, attending business leaders reaffirmed their goal of cooperating with governments to meet the COP28 target -  to double the annual global energy efficiency improvement rate to 4% by 2030.

It was a valuable event for the Best.Energy Kenya team, and Faraaz shared some key discussion points and takeaways from the roundtable sessions:

Building better access to finance for energy efficiency

“Financial Institutions require a clear and concise narrative to comprehend the benefits and implementation of energy efficiency. By presenting energy efficiency in a digestible manner, we can unlock better access to finance.” - Faraaz Charania

During the event, business leaders discussed the importance of creating a specific narrative and optics tailored for financial institutions. This approach aims to simplify and clarify the concept of energy efficiency, making it more accessible and understandable for financiers.

Energy efficiency strategy for Africa

According to Faraaz: “Africa is at a pivotal moment in its industrial journey. By embedding energy efficiency into our strategies now, we can ensure sustainable and cost-effective growth.”

With this in mind, business leaders explored the need to integrate energy efficiency into Africa’s industrialisation plans. As the continent undergoes rapid industrialisation, it is crucial to consider energy efficiency from the outset rather than as an afterthought.

Importance of measuring and verifying energy efficiency initiatives

The event highlighted that accurately measuring and verifying energy efficiency initiatives will address the need for precise quantification to demonstrate value and impact effectively.

Faraaz explained: “We use the IPMVP Principle to ensure proper measurement and verification of energy efficiency initiatives. It not only validates the effectiveness of these initiatives but also helps in securing funding and support by showcasing tangible results.”

Looking ahead

Business Leaders Roundtable Event

Best.Energy Kenya’s participation in the Business Leaders’ Roundtable underscores our commitment to driving energy efficiency in Kenya and beyond. The discussions on finance, strategy, and verification highlighted the critical steps needed to advance energy efficiency initiatives in the region and globally.

As pioneers in this field, we’re proud of how much progress the Kenya team is making as a Master Licensee, making waves in the energy efficiency sector. Their efforts not only position Kenya as a leader in energy efficiency but also set a benchmark for our network of global partners.

With continued collaboration and innovation, we’re confident that Best.Energy Kenya will lead the charge towards a more sustainable and energy-efficient future. We look forward to supporting their journey and celebrating further achievements in the years to come.