The phrase energy transition is becoming a household name. The two words pop up in countless news articles, studies, and policies. There is a reason why we speak of energy transition instead of energy revolution as it is a process in which we gradually phase out fossil energy and replace it with renewable or low carbon energy.
The word revolution implies a sudden shift with disruptive consequences. So, transition it is. But to reach a tipping point, more action is needed. That is why several voices from the industry say: ‘go big or go home’.
“Fossil fuels cannot keep being cheaper than green fuels. Action is required now. It is vital to consider all greenhouse gases, not just CO2, on a full life cycle analysis, otherwise we will not be able to truly decarbonize shipping by 2050 in line with the Paris Agreement”, Søren Skou, CEO of A.P. Moller Maersk, said.
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This post appeared first on Offshore Energy.