“Last thursday, we concluded our third Energy Week – a dialogue platform initiated by Siemens Energy that brings together political leaders, business executives and members of society in general. We kicked off the series with successful regional events in the Middle East and Africa that focused on the UAE Energy Roadmap 2050 and in the Asia-Pacific region that delved into on the consequences of growing urbanization, rising population and increasing energy demand. This week, we turned our attention to Europe and ways to advance the energy transition under the framework of the European Green Deal.
In 13 separate discussion groups with guests from all parts of Europe, we discussed the levers to get into action mode.
In line with the motto of the upcoming COP26: “It is time for the world to move from a decade of climate change deliberation to a decade of delivery.” The 10 lessons we took from our discussions are reflecting this:
We know that the cost of inaction far outweighs the cost of action, both in fiscal and social terms. I was very pleased to see so many high-level representatives on our panels, including government decision makers and our customers. And I would also like to say a big thank you to our conference partners. We could not have organized the conference without them.
The energy transition will require a fundamental transformation of our energy system, one cannot overstate this challenge. No single technology will be the answer but a multitude of different technologies and innovations.
The call for action was loud and clear in each panel. Edna Schone of Euler Hermes said, “The response to financing needs has to be multidimensional, and it’s our job to support the private sector financing these projects around the world.” Dr. Michael Steiner, Porsche’s chief technology officer, stressed the importance of a two-pronged approach to decarbonization. “With our Haru Oni project, we are working to develop eFuels that will reduce the carbon emissions of the current fleet, while developing e-mobility solutions like the Taycan.”
No company has the silver bullet for the decarbonization challenge, and no technology will solve it alone. Partnerships between companies, competitors and countries will be critical to making it happen. As Ambassador Wolfgang Ischinger put it in our joint Fireside Chat: “Companies of the private sector have been at the forefront of technology. I recommend a multistakeholder approach where the private sector should be deeply involved from the very beginning in whatever the government believes it needs to be done in terms of advancing climate protection programs reforming our energy sector.”
Thought leadership events like our Energy Weeks facilitate open and interest-driven discussions among key stakeholders at the crossroads of politics, business and society. With this in mind, I am already looking forward to the Latin America Energy Week that we will host this week. Stay tuned”.
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