New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
Is the energy transition moving fast enough?
29/11/2023
8 min read
Feature
A new report on the Future of Infrastructure by AECOM offers a wide-ranging survey of nearly 850 senior executives in nine industry sectors and 22 countries, examining their challenges and opportunities in the energy transition. Frank Sweet, Chief Executive, Environment & Energy Global Business Line, AECOM, and Adrian Del Maestro, Vice President, Global Energy Advisory, AECOM, share some key findings.
The world needs to transition faster. The Paris Agreement set a target of reducing greenhouse gas (GHG) emissions 43% by 2030 (relative to 2010), and the latest report from the United Nations Framework Convention on Climate Change (UNFCCC) calls for a ‘radical decarbonisation’ of the economy, with rapid, dramatic progress in every industry and sector.
‘The energy transition is broader than a shift to carbon neutrality. For many nations, it is also a path toward energy independence and security and, ultimately, to lowering the overall cost of energy,’ says Troy Rudd, CEO of AECOM. ‘To accelerate the energy transition and adapt as circumstances change, presents new challenges. But there are also tremendous opportunities. Success at speed and scale is possible, but it requires clear-sighted ambition and focused determination.’
The AECOM report on the Future of Infrastructure suggests that the energy transition is a continuum – a process of transformation that differs for every organisation.