ISTANBUL: Ahead of the 23rd World Energy Congress the World Energy Council has issued a statement calling on the energy sector to embrace a historic opportunity to redefine the energy contract.
The reality that per capita demand for energy will peak before 2030, the reality that we haven’t done enough to decarbonise our economies and the realities for national and private balance sheets are some of the 7 realities highlighted in the statement.
“The grand energy transition is an unstoppable phenomenon. Adapting to this new reality with innovative technologies and different business models will require a massive effort and our ability to respond rapidly will define both winners and losers.”
Christoph Frei, Secretary General, World Energy Council, added:
“Slower global growth and shifting demographics define a new normal. The main driving forces are increasing political pressure to decarbonise, innovation fuelled by an unstoppable digital revolution, as well as emerging risks for which yesterday’s unlikely has become today’s reality.
“This is a moment for positive and inclusive leadership where leaders and society need to embrace these new realities, define a new energy contract to enable timely decisions, maintain stable investment frameworks and strive for continued innovation.”
The full statement will be shared with the World Energy Council membership of ministers and energy leaders in nearly 100 countries along with the delegates to the 23rd World Energy Congress in Istanbul, Turkey.
The full statement is available here.