Bureau Veritas UK’s Post

"Soaring financing and materials costs, unreliable supply chains, delayed rulemaking in Washington and sluggish permitting have wrought havoc." We must abandon the high-cost, high-debt, low-results energy transition path various governments are pursuing. As the cost of living rises and disposable incomes decline, we should continue the energy transition at an affordable pace by: 1.    Ending the subsidies for energy consumers and the investments in selected technologies and development projects. 2.    Making a significant investment in nuclear electricity generation. 3.    Increasing investment in other electricity generation technologies. 4.    Ending the permitting gridlock on resource development project approvals required for critical minerals, electricity production, and grid interconnections. 5.    Collaborating on grid interconnections that make renewable electricity generation more effective. 6.    Shifting people to drive fewer kilometres in smaller cars and taking transit more. 7.    Encouraging people to reduce their energy consumption. 8.    Shifting high-GHG emission industries to new technologies. #energytransition

EEC returns to Aberdeen on the 11th and 12th June and is gearing up to host the biggest players from across the global energy sector, government, key decision makers, innovators and inward delegations. EEC will; present on global opportunities, showcase UK capability, present on new and exciting markets, accelerate business, and create transformative partnerships through networking. EIC, along with organising committee (Aberdeen City Council, Decom Mission, Department for Business & Trade, Energy Transition Zone, Global Underwater Hub, North Sea Transition Authority, OEUK, Scottish Development International and UK Export Finance) are delighted to bring together the international energy sector through this flagship event which connects global energy experts, presents on various opportunities and will encompass a wide range of possibilities across different sectors and technologies.  Following on from the United Nations Climate Change Conference COP28, EEC 2024 in Aberdeen (Scotland) will continue to discuss the initiatives and opportunities designed to speed up the energy transition and showcase the supply chain who are providing the right skills and expertise to support the evolving energy landscape.  With a growing global emphasis on cleaner energy sources and sustainability, there's never been a better time for the UK to export their products, services, solutions and technologies. Join us at EEC 2024 and find out how your business could benefit as we build international connections and explore the projects across the oil and gas, hydrogen, carbon capture, wind and nuclear industries.  https://lnkd.in/d-dET5Qx  

As we hear more and more talk about creating "green" energy, nuclear is once again left out of the discussion. The inconvenient truth is that nuclear generates the "greenest" electricity (small footprint, abundant generation, safe) compared to solar and wind (sprawl, limited generation, habitat destruction).

I will follow this with great interest. 2030 is ambitious. I guess the social aspects, rather than technical aspects, will be the real hindrances. The permitting process and required approvals for projects like this must be made more efficient. I would also like to see the conversation focus on the real benefits of alternative energy projects, rather than a nebulous 'carbon scorecard'. https://lnkd.in/gnqYvZuP

🌍 Time to Understand the Clean Energy Gap The clean energy investment gap, which has surged to $3 trillion annually, highlights the urgency of the situation. Despite a 17% growth in global clean energy investment in 2023, significant disparities persist across sectors. To stay on track for net zero by 2050, annual investments must more than double their current rates, presenting a formidable challenge. The challenges contributing to the clean energy investment gap include: ·      Access to Capital: Limited access to capital, particularly in emerging economies, poses a significant barrier to clean energy investment, hindering the transition to renewable energy sources. ·      Policy Uncertainty: Inconsistent policies and regulatory frameworks create uncertainty for investors, deterring long-term commitments to clean energy projects. ·      Technological Hurdles: Technological challenges, such as the lack of suitable financial instruments and perceived risks, inhibit the involvement of institutional investors in the clean energy sector. ·      Disconnect between Stakeholders: A disconnect between investors, policy-makers, and projects hampers the efficient allocation of resources and impedes progress in closing the investment gap. And there can be a further surge in the clean energy investment gap which can be attributed to several factors: ·      Rapid Growth in Demand: Increasing awareness of climate change and the urgent need for sustainable energy solutions have amplified the demand for clean energy investments. ·      Economic Uncertainty: Geopolitical tensions, high interest rates, and inflation have influenced investment decisions, contributing to the widening gap between investment needs and actual funding. ·      Technological Challenges: The realization of technological challenges and uncertainties in certain sectors may have led to a re-evaluation of investment priorities, exacerbating the gap. So, addressing the clean energy investment gap requires collaborative efforts from stakeholders across sectors and geographies. By overcoming barriers, fostering innovation, and enhancing policy support, we can accelerate the transition to a sustainable energy future and achieve our climate goals. Last but not least, I read a sentence in a publication of the IPCC, that sunk in “It is too late for carbon neutrality, we need to go carbon negative.” Let's continue the dialogue and work together towards bridging the clean energy investment gap for a brighter and greener future. 🌿💡

My hot take today is about a little noticed announcement the U.S. Department of Energy (DOE) released quietly today. It has reopened an opportunity to fund carbon dioxide transportation networks. This is a positive and a much-needed development because Cipher reporting earlier this year revealed that many of the carbon storage projects are not just dependent on securing permits but also on delivering the captured CO2. Aware of the paucity of transport networks, DOE itself noted, the U.S. will need to capture and permanently store approximately 400–1,800 million metric tons of CO2 annually by 2050 to meet its commitments. https://lnkd.in/ef7JPEgr In other top reads by my colleagues, Cat Clifford highlighted a Bloomberg article that spotlights how Holtec International, a company involved in making nuclear waste storage casks, is now looking to revitalize a nuclear plant headed for decommissioning. And Bill Spindle reported about an upcoming gathering of corporate heads of fossil fuel and tech companies. We try to stay on top of breaking news about the global developments in the cleantech and climate space and share them with you so continue reading our Top Reads and Hot Takes at Cipher News. Cheers!

UK urged to double clean energy deployment for 2035 goal. A new report warns that the UK’s slow progress toward 2035 energy target may hinder the country’s ability to meet net zero goals. #cleanenergy #decarbonisation #energybills #energyconsumption #energycrisis #energycustomers #energydemand #energyindustry #energyinfrastructure #energynews

📣 The closer the EU 2030 targets are, the more investments are needed. Specifically, in this decade, the Union will have to invest more than 1,200 billion a year in decarbonising the energy and transport sectors. An effort of almost 75% more than that of the decade 2011-2020. Kadri Simson, European Commissioner for Energy, reminded the House of this. What is it? The multi-level platform brings together energy and financial experts from all EU countries to evaluate and update funding schemes and thus mobilise new resources in the context of the REPowerEU plan and the European Green Deal. To the reunion anniversary, reached the second edition, Simson has brought all the experience of the Executive and explicit the direction in which the next efforts in a matter of clean transition will be concentrated. #SENnews #environmnent #globalwarming #greeneconomy #solar #eolic #energy #greenenergy #solarenergy #windenergy #sustainable #sustainabledevelopment

For the UK to meet its Net Zero targets urgent reform of the National Grid is needed.   ⛅️We need a mix of energy sources 🌐Queue management initiatives 💡Investment in 'shovel-ready' projects   Read Andrew Smyth's thoughts on how reforming the grid can turbocharge Britain’s green revolution: