The world is undergoing an energy transition, from a system based on fossil fuels to a system based on renewable and sustainable energy, to reduce global greenhouse gas (GHG) emissions and avoid the most serious impacts of a rapidly changing climate. Recently companies and governments around the globe have been committing to achieve a “net-zero target by 2050”. The term embraces the concept that any GHG emissions are balanced by absorbing, or physically capturing, an equivalent amount from the atmosphere by 2050. This is required to meet the 1.5°C global warming target in the Paris Agreement, global carbon emissions should reach net-zero around mid-century.
To assess the future pathway for a net-zero future by 2050, I surveyed 50 Global Energy Leaders and identified 15 key driving forces that can accelerate or urge the speed the world can achieve a net carbon zero future.
The survey was taken in the week of 17th May 2021 from 50 Business Energy Leaders across the globe, working in the energy sector, and based on the following 15 driving forces and market dynamics.
Table 1 – The 15 driving forces and current market dynamics
About the author: Mr. Filipe da Silva works at TATA Consultancy Services (TCS) as Head Business solutions for Energy and Resources, London, UK. He has 12 years of experience in energy and technology and has helped several organizations embracing digital transformational. Twitter: @Filipemotasilva
References
[1] “https://www.fortunebusinessinsights.com/industry-reports/carbon-capture-and-sequestration-market-100819,” [Online].
[2]“https://ec.europa.eu/transparency/regexpert/index.cfm?do=groupDetail.groupDetailDoc&id=34592&no=1,” [Online].
[3] “https://markets.businessinsider.com/news/stocks/climate-change-news-multi-trillion-dollar-investor-alliance-makes-pledge-2019-9-1028545554,” [Online].
[4] “https://news.bloomberglaw.com/environment-and-energy/insight-net-zero-passive-houses-are-answer-to-housing-energy-efficiency,” [Online].
[5] “https://www.weforum.org/agenda/2020/02/renewable-energy-future-carbon-emissions/,” [Online].
[6] “https://hbr.org/2019/06/is-your-company-ready-for-a-zero-carbon-future,” [Online].
[7] “https://futurice.com/bets-for-the-future/the-full-electrification-of-mobility-infrastructure,” [Online].
[8] “https://contrarianventures.medium.com/global-energy-storage-startup-map-76bfddaa9c86,” [Online].
[9] “https://www.spglobal.com/platts/en/market-insights/blogs/electric-power/042120-cross-currents-big-oil-and-the-energy-transition,” [Online].
[1] “https://www.fortunebusinessinsights.com/industry-reports/carbon-capture-and-sequestration-market-100819,” [Online].
[2]“https://ec.europa.eu/transparency/regexpert/index.cfm?do=groupDetail.groupDetailDoc&id=34592&no=1,” [Online].
[3] “https://markets.businessinsider.com/news/stocks/climate-change-news-multi-trillion-dollar-investor-alliance-makes-pledge-2019-9-1028545554,” [Online].
[4] “https://news.bloomberglaw.com/environment-and-energy/insight-net-zero-passive-houses-are-answer-to-housing-energy-efficiency,” [Online].
[5] “https://www.weforum.org/agenda/2020/02/renewable-energy-future-carbon-emissions/,” [Online].
[6] “https://hbr.org/2019/06/is-your-company-ready-for-a-zero-carbon-future,” [Online].
[7] “https://futurice.com/bets-for-the-future/the-full-electrification-of-mobility-infrastructure,” [Online].
[8] “https://contrarianventures.medium.com/global-energy-storage-startup-map-76bfddaa9c86,” [Online].
[9] “https://www.spglobal.com/platts/en/market-insights/blogs/electric-power/042120-cross-currents-big-oil-and-the-energy-transition,” [Online].
Categories: Climate Change, Emissions
