The manifesto, targeting leaders attending the
The five fundamentals for faster progress towards green energy security in 2023, as highlighted in
1. Accelerating planning and ambition for electricity grid infrastructure to deliver the transition to a green economy: Electricity networks will have to increase the amount of renewable generation they connect five- or six-fold by 2040 to achieve Net Zero goals. According to McKinsey, in the
2. Turbo-charging the deployment of renewable generation projects: Long and complex permitting procedures are stalling the deployment of renewables projects and progress towards climate goals. This needs to be resolved. According to the IEA, renewable generation needs to increase from almost 29% of the generation mix in 2021 to more than 60% by 2030.
3. Scaling up green hydrogen as a solution for hard-to-decarbonise industries: Specific areas of the heavy industry and heavy transport sectors will rely on green hydrogen for their transition, and concrete policies are required to kick-start this industry. Progress has been too slow. According to the IEA, to stay on track with Net Zero ambitions, low-emission hydrogen production needs to increase from nearly zero today to more than half of global hydrogen production by 2030, around 95?Mt,
4. Increasing ambition on innovation to drive climate solutions: Innovation at scale is required to facilitate the optimal deployment of renewables, electric vehicles and energy storage systems. The positive global trends -the IEA states that global government energy R&D and demonstration spending was 5% higher in 2021 than the previous year- should be maximised, and private sector companies can be more aligned with governments. For this reason,
5. Keeping our eyes on the long-term prize of decarbonisation: 2022 was marked by a range of government interventions in energy markets, which were in some cases reactive, short-term or even arbitrary in nature. 2023 provides governments and regulatory authorities across the world with the opportunity to show leadership and decisiveness in backing sustained green investments so that we can emerge from the crisis in better shape.
'It is both troubling and ironic that only unseasonable winter temperatures triggered by climate change have saved large parts of the northern hemisphere from much more severe threats to energy security and affordability this winter. We can and must do much better in 2023, and work quickly to deliver green energy security - rather than depending on good luck and mild weather.
'For Iberdrola, the answers are clear. A crisis caused by gas will only be solved by sustained investment and innovation in green generation, networks and energy storage. All the solutions already exist. There are no technological barriers to the transition. However, we still need policymakers to show more urgency and ambition, working in tandem with regulators, to overcome the challenges that persist.'
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