IEF: Energy Transition in the Era of Climate Change

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Historically, energy transitions have taken decades. It took ~40 years for coal, oil, and gas to reach 15-20% share of the world’s primary energy consumption. Prior transitions were driven by fuels with higher functionality and lower cost and were technologically and economically driven. The current transition is being driven by a plethora of local, national, and regional policies and regulations which are not well coordinated. Are the recent disruptions in energy supplies around the world an indicator of how this transition will progress? How can policy makers and companies collaborate better to make this transition more orderly? Consumers around the world are generally not willing to pay higher costs to reduce emissions. How will this transition be financed? What is necessary to make this a “just transition” for communities most impacted? Where are the large-scale opportunities for emerging and developing economies to leapfrog to the future energy system? Speakers Emma Delaney, Executive vice president, customers & products, bp p.l.c. Amitabh Kant, Chief Executive Officer, National Institution for Transforming India (NITI Aayog) Chair Atul Arya, Senior Vice President & Chief Energy Strategist, IHS Markit

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