Dual Challenge: Accelerating energy transition while ensuring energy security
Energy Transition/Climate & Sustainability
The global consensus around the need for an emissions-focused energy transition has become consistently stronger. Yet challenges to achieving it have also become more evident. One challenge is obvious—the uncertain pace of technological development and deployment and the timing required to reach scale. The need for energy security was a concern that had largely faded over the past several years. The energy shock, the economic hardship that ensued, skyrocketing energy prices that could not have been imagined 18 months ago and geopolitical competition and conflicts—have all combined to bring energy security back to the fore. In retrospect, there cannot be energy transition without energy security. In this conversation, the panelists will address the following questions: Is the current energy crisis the first crisis of energy transition? And how should future shocks be avoided? What would a balanced and orderly transition look like? Will the focus on energy security speed up or slow down this energy transition? Is there too much optimism on scale-up and deployment of technologies such as CCUS, hydrogen and long-duration storage? What would you recommend to move this conversation outside the room of the energy cognoscenti—to engage broader public stakeholder groups..