It’s not just climate change that’s spurring countries around the world to reassess their energy infrastructure.
As a new World Energy Council report on the “World Energy Trilemma” underscores, it is the combination of energy security, sustainability and equity that ultimately hangs in the balance with the increasing number of both government and corporate commitments made in recent months to transition toward renewable energy.
That’s not to say getting from point A to point B will be easy, however.
“We need to get better at coordination, including looking beyond the energy sector to meet climate and energy goals, which will require changes right across the economy to our transportation, manufacturing, construction and agricultural sectors,” wrote the authors of the report, which was produced with consultancy Oliver Wyman.
The stakes of this transition are particularly relevant this week, as global energy ministers and clean energy evangelists descend on San Francisco for one of the most visible gatherings since the Paris climate talks in December. The seventh annual Clean Energy Ministerial (CEM7) is expected to draw the likes of U.S. Secretary of Energy Ernest Moniz and Apple environmental chief Lisa Jackson, with a slew of corporate commitments and research reports also expected around the event.
The new report, released on the opening day of the energy summit, lays out the various risks and opportunities in play, which are summarized in four charts: