Global energy leaders are on a tough road to move forward to a lower-carbon future. At this year’s CERAWeek, many speakers are prepared for speeches about the energy transition and the importance of future investment in renewables. BP CEO Bernard Looney said carbon-emitting companies committed to achieving net-zero emissions needed support. Meanwhile, Royal Dutch Shell CEO Ben van Beurden pointed out the viability of clean energy technology such as hydrogen, which remains far in the future.
Many of the speakers voiced that it is going to be difficult to achieve net-zero emissions by using certain technologies that can absorb polluting emissions. Andy Jassy, the soon-to-be Amazon’s CEO, said that many companies had announced net-zero targets but had not figured out how to get there.
On the other hand, many leaders from the fossil fuel industry emphasized the importance of keeping investment flowing in the sector because the current renewable energy capacity is not enough to meet people’s needs, even in developed nations. John Hess, CEO of Hess Corp, warned that oil demand would still grow until the next decade, and current investments are not enough to grow oil and gas production in the future.
