EMBRACING ENERGY TRANSITION

In an era where the world grapples with escalating climate concerns, transitioning the energy system towards cleaner forms of energy is seen as key in shaping our global trajectory towards sustainability.

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This shift from conventional, finite fossil fuels to renewable, inexhaustible energy sources is required to mitigate climate change while securing energy access for all, and fostering economic development without compromising the needs of future generations. While Governments acknowledge this through Net Zero targets and goals/ policies for increasing renewable energy supplies, we are seeing increasing CO2 emissions since the Paris COP in 2015 (bar 2020 – Covid impact).

Global Needs and Response-

Energy transition is a complex challenge that requires countries, businesses, firms and policymakers to collaborate and phase in cleaner forms of energy with the right incentives and drivers. The transition must be just, feasible, and practical to avoid energy shocks that impact the population at large. My core beliefs about the pace of the energy transition are:

• Changes to the energy demand– choices that each of us make – will drive the pace

• While the share of fossil fuels will gradually decline, the pace at which this happens will vary for different geographies.

• Technology improvements and innovations will drive the adoption of cleaner energy.

To ensure as smooth a transition as possible from fossil fuels to renewable energy requires specific roadmaps to be defined for each country in its journey towards net zero.