ABB CEO Ulrich Spiesshofer says industrial firms have made good progress in becoming more energy efficient, but they are still not taking full advantage of the opportunities available.

Research commissioned by ABB has confirmed that energy efficiency remains a high priority for executives in industry.

Of more than 300 surveyed in the manufacturing and power sectors by the Economist Intelligence Unit (EIU), almost all said energy efficiency will remain a crucial success factor for their companies in the next two decades.

But three quarters of those same executives said they faced barriers to improving energy efficiency; data from the EIU report indicates that these barriers are affecting more companies.

This is a problem for reasons of industrial competitiveness – energy costs are high and rising – and because energy efficiency is the most effective way to limit our impact on the environment.