SPECIAL REPORT – Global Energy Transition Must Accelerate to Thwart Climate Change 0

  • The World Economic Forum launched today the Fostering Effective Energy Transition report, which ranks 114 countries on how well they are able to balance energy security and access with environmental sustainability and affordability

  • The report finds that worldwide progress towards environmental sustainability has stalled, while energy prices have risen in real terms in more than half of the countries surveyed despite an overall fall in fuel prices

  • Sweden, Norway and Switzerland lead the rankings table; France and UK lead the way among the G7 countries; and the world’s two largest economies, the United States and China, score highly on their readiness for energy transition

São Paulo, Brazil, 14 March 2018 – A new report, Fostering Effective Energy Transition, published today by the World Economic Forum presents its Energy Transition Index 2018, benchmarking 114 countries according to the current state of their energy systems and their structural readiness to adapt to future energy needs.

The report ranks countries on their current energy system performance along three dimensions – energy security and access, environmental sustainability of the system, and potential for inclusive economic growth and development – and evaluates the extent to which enabling conditions that facilitate a low-carbon transition are present.

“With this new fact-based framework, we do not only get a view of the performance of national energy systems today but also a much-needed perspective on what is needed to succeed in the future”, Roberto Bocca, Head of Basics and Energy Industries, World Economic Forum.

The key finding of this year’s Index is that worldwide progress toward environmental sustainability has stalled, demonstrated by a near-flat trend in carbon intensity: marginal improvement has occurred at only 1.8% a year over the past five years versus the 3% threshold required to achieve the Paris Agreement on climate goals. In terms of affordability, household electricity prices have risen in real terms in more than half of countries since 2013, despite an overall fall in fuel prices.

On a more positive note, recent global trends indicate more than 80% of countries registering an improvement in their energy systems over the past five years. However, it also concludes that a new strategy is needed to assist the one billion people currently without electricity.

The Energy Transition Index (ETI) in 2018

According to the findings, Scandinavian and Western European nations lead the overall rankings, with SwedenNorway and Switzerland making up the top three. The United Kingdom (7) and France (9) are the only G7 economies in the top 10.

Other large economies show mixed performance. Germany (16) faces challenges from high energy prices and rising emissions but has a high level of readiness (11), attributed to strong institutions and regulations. The United States (25) scores poorly on environmental sustainability, but a strong innovation ecosystem, robust institutional framework and vibrant capital markets contribute to a higher readiness rank (22).

Colombia (32), Brazil (38) and Russia (70) have well-performing energy systems due to abundant natural resources, but also have low levels of readiness as a result of gaps in human capital and challenges in their institutions and regulatory frameworks.

The report identifies countries that demonstrate above average levels of readiness, despite lower rankings on current performance, suggesting the potential to “leapfrog” to more advanced energy systems. These include the Republic of Korea (49), Jordan (65), and Kenya (71). Increased investment in renewables and energy efficiency in the latter, for example, has led to significant expansion in energy access.

China (76) also achieves leapfrog status due to recent mandates for electric vehicles and political commitment to addressing environmental challenges, including steps towards the creation of a carbon trading market. Its performance suffers due to its low rank on environmental sustainability.

India (78) has improved its performance by making strides towards energy access and reducing energy subsidies. India has taken a series of bold measures, particularly on renewables deployment and energy efficiency, and ranks as an “Emerging Country” that is rapidly approaching the leapfrog category.

Fostering Effective Energy Transition, produced with analytical support from McKinsey & Company, concludes with seven steps for an effective energy transition, as well as illustrations of successful experiences and tested frameworks that countries can learn from. Long-term roadmaps with clear imperatives, goals and milestones – and establishment of enablers identified in this framework – are essential for countries to accelerate their energy transition.

“Disruption in the energy system is approaching an inflection point and policy-makers, business and society must get ready to capture the opportunities that energy transitions offer. Predictable yet flexible country energy roadmaps are a crucial part of an effective transition that creates value for both business and society”, said Thomas Seitz, Senior Partner, McKinsey & Company.

“There is an urgent need to speed up the transition toward more sustainable energy production and use, including reductions in greenhouse gas emissions, greater access to energy and improvements in air quality. To do this we will need to harness a broad portfolio of energy technologies and deepen cooperation between governments, industry and civil society stakeholders”, said Fatih Birol, Executive Director, International Energy Agency and Co-Chair of Stewardship Board, Shaping the Future of Energy System Initiative, World Economic Forum.

Explore the full report here

Previous ArticleNext Article

Quasar 2 – New Flare Stack Monitoring System 0

The new flare stack monitoring system from LumaSense Technologies is designed to monitor pilot flames and flared gases for elevated flare stacks. Additional applications include: Gas assist flares, Staged flares, and Offshore flares. Quasar 2 is available in “Basic” and “Advanced” models.

Safe flare operation and environmental protection require reliable and accurate flare pilot monitoring. Generally, all flare pilots are monitored with thermocouples. However, thermocouples fail due to thermal shock, extreme heat and vibrations during flaring events. The requirement for pilot monitoring beyond the normal life of pilot thermocouples has driven the market need for alternative methods and installation of redundant methods of pilot monitoring in addition standard pilot thermocouples. Regional flare governmental permitting rules driven by environmental protection, health and safety guidelines for global flare operation have had a large impact on the increasing market need for IR pilot monitoring systems.

The E²T Quasar 2 series are monitoring and detection instruments designed for continuous duty monitoring of pilot flame and flared gases from flares. The base system provides low-cost basic flare pilot monitoring capabilities. The advanced model has an intensity meter with 2 set points that allow monitoring of both the pilot and flaring status signals from the same unit. Additional add-on features are available for a configurable product to meet a wide range of client flare types, monitoring requirements and budget. High Resolution sight-through optical system and selection of various spot sizes enables the Quasar 2 system to be positioned as far as 1/4 mile (400 m) from the stack being monitored. Alignment on the target is accomplished through bead and notch aiming and signal amplitude in combination with a stable M-4 heavy duty swivel mount. Custom electronics adapt to target movement, varying luminosity and most climate conditions. The alarm delay circuit can be adjusted for a specific location or application, eliminating false alarms from temporary loss of signal due to intermittent flames, adverse weather and wind.

The system is complete with internal cooling base, air purge tube and swivel mount. An optional M-8 pedestal stand allows for easy stable system mounting. With over installations at over 550 petrochemical facilities worldwide, customers know they can trust LumaSense E²T line of petrochemical infrared sensors.

LumaSense Technologies, Inc.

Published on Aug 1, 2018

For more information, visit: https://info.lumasenseinc.com/q2

YouTube

PRESS RELEASE: ExxonMobil to Join Oil and Gas Climate Initiative 0

ExxonMobil to Join Oil and Gas Climate Initiative
  • The CEO led global initiative aims to provide practical solutions to climate change mitigation

  • Focus areas include carbon capture and storage, methane reductions, energy efficiency

  • As part of the initiative, ExxonMobil to invest in research and development of long-term solutions to reduce greenhouse gas emissions

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil today said it will join the Oil and Gas Climate Initiative (OGCI), a voluntary initiative representing 13 of the world’s largest oil and gas producers working collaboratively toward solutions to mitigate the risks of climate change.

“It will take the collective efforts of many in the energy industry and society to develop scalable, affordable solutions that will be needed to address the risks of climate change”

The CEO-led organization focuses on developing practical solutions in areas including carbon capture and storage, methane emissions reductions and energy and transportation efficiency. As part of the initiative, ExxonMobil will expand its investment in research and development of long-term solutions to reduce greenhouse gas emissions as well as partnerships and multi-stakeholder initiatives that will pursue lower-emission technologies.

“It will take the collective efforts of many in the energy industry and society to develop scalable, affordable solutions that will be needed to address the risks of climate change,” said Darren Woods, chairman, and chief executive officer of ExxonMobil. “Our mission is to supply energy for modern life and improve living standards around the world while minimizing impacts on the environment. This dual challenge is one of the most important issues facing society and our company.”

ExxonMobil has invested billions of dollars in researching and developing lower-emission solutions, including carbon capture and storage technology, next-generation biofuels, cogeneration, and more efficient manufacturing processes.

Earlier this year, ExxonMobil announced initiatives to lower greenhouse gas emissions associated with its operations by 2020, including reducing methane emissions 15 percent and flaring by 25 percent. Since 2000, ExxonMobil has spent more than $9 billion to develop and deploy higher-efficiency and lower-emission energy solutions across its operations.

OGCI was established following the 2014 World Economic Forum and formally launched at the United Nations Climate Summit the same year. Members include BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental Petroleum, Pemex, Petrobras, Repsol, Royal Dutch Shell, Saudi Aramco, and Total.

About ExxonMobil

ExxonMobil, the largest publicly traded international energy company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil.

Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including the timing, results and impact of new technologies and future emission reductions, could differ significantly depending on the outcome of further research and testing; the development and competitiveness of alternative technologies; the ability to develop and scale pilot projects on a cost-effective basis; political and regulatory developments; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.

Contacts

Exxon Mobil Corporation
Media Line, 972-940-6007

Source: Business Wire

Most Popular Topics

Editor Picks

Send this to a friend