Renewable Ambitions: Can supply chains deliver?
Energy Infrastructure/Supply Chain
In November 2021, representatives of almost 200 nations and territories gathered in Glasgow to drive forward action on limiting global climate change. Currently, a total of 154 parties have pledged to reach net-zero emissions, accounting for about 90% of global GHG emissions and 95% of global GDP. As part of these ambitions, parties have agreed to accelerate the efforts to reduce unabated coal and phase out inefficient fossil fuel subsidies. Under the IHS Markit Green Rules scenario, approximately 75% of key markets’ generation capacity will come from renewables in 2050. This will require a dramatic ramp up of the supply chains and the production and processing of raw materials. What is required for supply chains to develop at the pace that climate ambitions will require? How are companies adapting their strategies to cope with potential supply chain bottlenecks?