Energy security, affordability and sustainability: the grand alliance

There is little doubt that the climate crisis is one of the direst challenges humanity has ever faced, with far-reaching consequences that will affect generations to come. If we hope to avert it, we must bring stakeholders from around the world together in a shared vision towards a “Grand Alliance” that balances energy security, affordability and sustainability going forward.

 

It is hard to imagine meaningful progress without collaboration and cooperation that extends around the globe. The good news is that progress is being made. Investment in renewable energy is growing: more than 1,000 big companies to date have committed to setting emissions-reduction targets, and more than 340 have set net-zero targets across their operations and value chains.

 

Though emissions have grown globally, many countries have reached plateaus or seen declines. After peaking in 2005, U.S. emissions have declined by over 10 percent, and studies have shown that emissions from Russia, Japan and the EU have plateaued. 

 

It is unrealistic, however, to expect a sudden and abrupt end to conventional fuels. Indeed, the oil and gas industry will continue to play an important role in enhancing energy security by ensuring reliable supplies while also accelerating the energy transition. To cite just one example – Mitsubishi Heavy Industries has used modeling software to invent and improve their proprietary carbon capture technology, which has been adopted by ExxonMobil.

 

The world wants a green future, one free from violent extremes of climate change. But people also want secure and reliable energy supplies, to guarantee uninterrupted light and warmth and sustain industries as they lift billions out of poverty. Others have argued that the energy transition must also focus on equity and justice. 

 

While many would put these aims on a collision course, those goals should not be seen as an “either or.” On the contrary, they can and should be pursued in parallel, to ensure that the global energy transition delivers on the promise of a sustainable future.

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To learn more about the energy transition, read our executive whitepaper, Energy Security, Affordability and Sustainability: The Grand Alliance.

 

By Rasha Hasaneen, Chief Product and Sustainability Officer, Aspen Technology