The Energy Trilemma: Balancing security, transition and affordability
Recent global crises have redefined how the world understands the future of energy. Successive upheavals caused by pandemic, recovery and war created massive imbalances between the energy the world needs and the capacity to deliver it. The world is now reassessing how energy security, transition and affordability must work together to drive global growth and prosperity. The energy transition will not stop as governments, industries and institutions all need to act on climate change. But the global energy industry has taken on a new imperative: to build a system that is equal parts secure, sustainable and affordable—to meet global demand for fuels that drive the global economy while also designing this system to redress climate change. What are the fundamental shifts needed in investment, policy and technology to achieve that?