“Put simply, a just transition is about moving to an environmentally sustainable economy (that’s the ‘transition’ part) without leaving workers in polluting industries behind,” says NGO Greenpeace
The definitions of Environmental, social and corporate governance (ESG) have been challenged by Russia’s invasion of Ukraine, nowhere more so than in the energy sector, where companies have been forced by events to exit Russia abruptly and energy prices have soared to record levels.
The UK’s bus and lorry fleets, plus many homes, could be running on low carbon hydrogen within two decades thanks to green technologies now being pioneered in three UK regions renowned until now for their carbon-intensive industries.
A senior figure at energy services giant Petrofac (LON: PFC) has challenged the energy supply chain to earn its right to secure work on low carbon schemes.
“Scotland will become the offshore wind capital of the world, I think that’s inevitable,” says Martin Dronfield, chairman of the East of England Energy Group (EEEGR), "but the East of England can and will become the integrated energy exemplar in the UK.”
Scotland’s net zero and energy secretary has issued a clear reminder to the offshore wind industry that supply chain pledges are more than simply “indications”.
Reach back 20 years and there was much excitement about the idea that renewables would kick open the doorway to distributed energy; the notion that power generation would be somehow spread equitably throughout the land and be friendly.
The UK’s offshore energy industry is aware it has a major opportunity to drive a very positive future – both for the UK economy and its energy mix alike.
The Australian state of Victoria has committed to bringing online up to 9GW of offshore wind capacity by 2040 through a series of rolling goals with first power targeted as early as 2028. Crucially, this will help Australia, a giant liquefied natural gas (LNG) exporter, reposition itself as a major green hydrogen exporter in the future.