The energy sector is at a transition point and faces a number of growing challenges. Innovative policies and technologies are the key to addressing these challenges according to a new report by the World Energy Council.
The report was presented to ministers and government representatives as they met at the seventh Clean Energy Ministerial (CEM7), San Francisco, USA on 1 June.
The World Energy Trilemma 2016: ‘Defining measures to accelerate the energy transition’ (https://www.worldenergy.org/publications/2016/world-energy-trilemma-2016-defining-measures-to-accelerate-the-energy-transition/) published by the World Energy Council, in partnership with global consultancy Oliver Wyman, a subsidiary of Marsh & McLennan Companies, has identified five focus areas to drive progress on the Energy Trilemma of sustainability, security and energy access, and meet the goals of 2020 and beyond. This report will provide the foundations for many discussions at the 2016 World Energy Congress in Istanbul in October.
Joan McNaughton, Chair of the World Energy Trilemma study group, said: “The Paris Agreement has raised the bar on what countries must do to have a sustainable energy policy – one which delivers not just on energy security, access and affordability; but is also capable of delivering the Paris commitments. Having a high GDP or great natural resources can help, but good policy with a clear sense of strategic direction, implemented well, is what really drives good Trilemma performance.
“More substantive dialouge with business leaders and the investment community will help policymakes to produce policies which are robust in a world of fast changing dynamics of energy supply and demand and an accelerating pace of technological and business change. The sooner countries start on the transition, the cheaper it will be.”
The report highlights five key findings emerging from innovative policies, interviews with policymakers and private sector energy leaders and an analysis of five years of the Energy Trillema Index: