Energy transition is our greatest opportunity

By KBR Consulting

The supply and demand of energy, energy security, and environmental sustainability are increasingly big issues capturing the attention of governments and companies around the world. There is a significant shift in thinking around the energy transition and the need for a less carbon intensive mix where people, planet and profit come together. The race is on to achieve this, while demand for energy continues to rise, particularly in emerging economies.

The UN Climate Change Conference (COP26) and the race to Net Zero by 2050 have already realigned and energised humanity’s priorities. It’s opened up peoples’ eyes to the ‘art of the possible.’ At the same time, COVID-19, a catalyst for digital transformation, has accelerated many businesses up the S curves of technology adoption in a growing number of economic sectors. The energy sector is no different.

Tackling the global energy challenge and the need to transition offers economies, financiers, and businesses a once in a lifetime opportunity. If they don’t grab it in the short to medium-term, others will. This challenge is not confined to energy production itself, but all the supply chains, infrastructure, and the provision of so-called green electrons across every industry and economic sector.

There are thousands of examples of how disrupted markets can shift rapidly — like Spotify or Apple. The revolution for audio consumption was sudden, while growth was exponential, and existing heritage providers missed out, as laggards in the transition. There are lessons here for the global energy transition. Disruption is imminent, it will be bold and speedy.

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