What is it?
This is a difficult one as it means different things to different people.
The International Renewable Energy Agency (IRENA) says, ‘The energy transition is a pathway toward transformation of the global energy sector from fossil-based to zero-carbon by the second half of this century’. What remains unclear is the role of fossil fuels beyond 2050, with many sustainable development projections showing hydrocarbon use well into the second half of the century.
In Goal7, we like to think of it as the transition from position we’re at today and where we need to get to so that we can meet the Paris Agreement commitments by 2050. We also believe that in 2050 there will be new energy provision challenges and the journey will continue.
Goal7’s Energy Transition Service
Solutions that balance risk, reduce climate impact and increase exposure to sustainable markets.
- 01 Analysing and understanding changing markets
- 02 Developing strategic options and pathways
- 03 Assess, manage, reduce physical risk exposure
- 04 Assessing feasibility of opportunities – technologies, economics, sustainability
- 05 Exploring potential for collaboration
- 06 Accelerating implementation of individual projects