Dozens of governments issue joint Montreal statement

Cresthaven AnalyticsIntelligence Brief

Headline

Dozens of governments issue joint Montreal statement committing to energy efficiency as a cornerstone of national energy policy

Executive Summary

Dozens of governments meeting at the IEA's 11th Annual Global Conference on Energy Efficiency in Montreal issued a joint statement committing to make energy efficiency a cornerstone of energy policy. The statement cites disruptions to global energy markets following the war in the Middle East as reinforcing the case for accelerated efficiency action.

Bottom Line

The Montreal joint statement positions energy efficiency as an immediate energy-security response alongside its established climate rationale, with governments reaffirming the need for stronger implementation and pledging to look for opportunities to expand policies that support vulnerable households and SMEs. The COP31 Presidency announces it is commissioning the IEA to produce a special report to support the development of a buildings efficiency target for COP31 in Antalya later this year. Cresthaven reading: the commissioning of the IEA buildings report opens a defined pathway toward a sector-specific efficiency target at COP31, placing building owners, developers, and energy-intensive operators in scope of a target-setting process whose outcome is not yet determined.

Key Regulatory Signals

Joint Commitment Targets Buildings, Data Centers, and Vulnerable Consumers: The Montreal statement calls for stronger efficiency action in buildings and data centers, increased support for vulnerable households and SMEs, and measures to unlock investment without creating unnecessary administrative burdens. Cresthaven reading: firms operating energy-intensive facilities or advising on infrastructure investment face a stated policy direction toward tightened efficiency expectations across these asset classes.
COP31 Presidency Commissions IEA Buildings Efficiency Report: The COP31 Presidency announced it is commissioning the IEA to produce a special report to support the development of an energy efficiency target for buildings ahead of COP31, which takes place in Antalya, Türkiye, later in 2026. The report is intended to inform target development, not to establish a target itself.
2030 Doubling Commitment Reaffirmed: Governments in Montreal reaffirmed the commitment, first made at COP28 in 2023, to work toward doubling the global rate of energy efficiency improvements by 2030. Canada's Minister of Natural Resources Tim Hodgson specifically referenced the goal of doubling efficiency progress by 2030.
IEA Releases Updated Policy Toolkit and Consumer-Protection Analysis: The conference drew on an updated IEA Energy Efficiency Policy Toolkit, new analysis on sheltering consumers from price shocks, and a new report on efficiency benefits for businesses. The IEA continues to track efficiency improvements through its Energy Efficiency Progress Tracker.

Regulatory Delta

The Montreal statement builds on the 2023 COP28 commitment to double global efficiency improvements by 2030, reaffirming rather than escalating that target.
The COP31 Presidency has commissioned an IEA special report on a buildings efficiency target, a new procedural step toward establishing a sector-specific goal for COP31.
The statement frames efficiency as a response to disruptions following the war in the Middle East, linking energy security and affordability rationales to the existing climate-driven 2030 doubling commitment.

Materiality Classification

MEDIUM — A joint ministerial statement and a COP31 Presidency commissioning announcement signal a directional policy trajectory toward sector-specific efficiency targets, without creating binding obligations on regulated firms at this stage.

Intelligence Outlook

Monitor the IEA and the COP31 Presidency for the release of the commissioned special report on buildings efficiency and for any target announcement at COP31 in Antalya later in 2026.