COP26: For energy evolution to succeed, we need action

The COP26 summit in Glasgow, which kicks off on 31 October, couldn’t be coming at a more important time. The energy transition has reached a vital stage and, if the coming weeks are a success, we will be able to look back at COP26 as a key moment in bringing about a decarbonized energy system and, along with the other decarbonizing sectors, a better future for the planet.

It’s important that everyone at COP26, as well as the wider public, understands what decarbonization really means for the energy sector: It is about finding the balance between limiting global warming while maintaining a secure energy supply.

Europe’s current gas price challenges exemplify how security of supply and the actions needed to limit global warming to well below 2 degrees centigrade go hand in hand. As policymakers search for ways to contain the impact of price increases on consumers, they must understand why these price increases occurred in the first place and then look for long-term solutions that should support the energy system being secure and sustainable.

Energy evolution, at its heart, is about taking responsibility for this change in a balanced way. Europe and the world must focus on strengthening co-operation to face the challenges of the energy future and have the strength of character to take the difficult decisions that are going to pay off in the long-term.

Seize the moment

This spirit and attitude of taking responsibility is something that Europe and the world needs to see at COP26. Governments, policymakers, and businesses must make the big decisions to invest and commit to future technologies now, not tomorrow. We need the right blend of cooperation and financial solutions to help businesses bring these new technologies to market and make them viable as quickly as possible. The faster these decisions get made, the sooner we can make energy evolution happen and decarbonize our key industries.

There’s far too much at stake! Thus, COP26 could be a forum for finding long-term solutions, making the world a cleaner and more environmentally friendly place, while ensuring that we keep the lights on and meet the world’s energy needs both today and tomorrow. This requires knowledge-sharing, openness, and the vision to set roadmaps into the 2030s and beyond.

The new energy landscape won’t appear overnight, of course. But if COP26 is the decisive detail-oriented and responsible event we all want it to be, it will be a huge boost to the process of rational, meaningful change that will get Europe and the world so much closer to where it needs to be.