Energy transition: driving growth through diversification
Energy transition is all about accelerating transformational change for the…
Renewable energy provides power to the world’s homes, workplaces and public amenities without depleting the Earth’s resources for fuel. Driven by the need to end our dependence on the fossil fuels that contribute to global warming, technologies to convert the energy from the wind and sun into clean electricity have become well established and are set to grow rapidly. Solar parks and offshore and onshore wind farms will be supplemented by other forms of clean power such as wave energy and hydrogen.
At the recent COP26 United Nations climate summit in Glasgow, governments around the world made commitments to reduce greenhouse gas (GHG) emissions from fossil fuel use to limit hazardous global temperature rises. Many have pledged to achieve net zero economies within decades – ensuring the total carbon added to the atmosphere is balanced by the total removed by nature or technology.
This impetus will bolster existing pressure on business from investors and the public to reduce its carbon footprint and to embrace sustainable development principles to protect the planet for future generations. Energy suppliers in particular are on notice to phase out their reliance on climate-warming fossil fuels in favour of clean, renewable sources.
These forces are driving an energy transition as significant as the shift from steam to electricity. The change has profound implications for national economies and creates opportunities for organisations in many business sectors.
Download our Green Energy whitepaper to understand the soaring demand for a renewable energy supply chain, with a focus on wind.
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