We are clearly in a vital period for the energy industry so much so that the term ‘poly-crisis’ has been regularly used. What do you believe is the key challenge for the industry and the transition towards a green future?
The key challenge for industries in Europe is to remain competitive over the longer term with other regions, while still acknowledging the climate pledges made by many Governments on the continent. Balancing these competing forces will require stable fiscal frameworks and the right incentives to push corporates, consumers and other stakeholders in the right direction.
Portugal was among the first countries in the world to set 2050 carbon neutrality goals and is a global leader on the path to achieving targets. How do you feel other nations can successfully follow in Portugal’s footsteps going forwards?
It is early stages in Portugal’s journey to net zero, but a thriving renewables with many incumbents and generally pro-business environment set it up well for success.
Is regulation the biggest barrier in promoting new business models developing for renewable energy development and where do you believe greater cross border regulatory uniformity could help drive innovation in business models?
We are currently in the midst of a beauty parade for Government subsidies across multiple regions, as many attempt to attract investment for low carbon energy and infrastructure. A consistent and stable regulatory environment will be need to drive capital investment and help re-build Europe’s energy system.
Lastly, we are delighted that you are on board as a speaker and looking forward to hearing from you in Lisbon. What are the key points that you will be discussing as part of your session and what are you personally looking to gain from the event?
I run RBC’s energy research franchise in Europe and as a team we cover the Global Integrated Energy Majors, alongside key energy transition related themes such as renewable fuels, hydrogen and carbon capture. I also oversee RBC’s European gas and LNG research product, and have written several notes on the Energy Trilemma – the balance between de-carbonization, energy security and costs, which I would expect to be a recurring theme for the Lisbon Energy Summit.
