CERAweek, often known as the “Davos of Energy”, brought together public and private energy experts to discuss what comes next with energy security, transition, and access. Compared to last year’s war in Ukraine which put the spotlight on energy security, this year’s conference focused on the energy transition. With $369bn of credits at stake, corporate executives, investors, and founders were keen to figure out how to profit from a real-world transition to clean energy. The conference was dominated by those from established companies, although there were also newcomers such as innovators, project developers, investors, and project financiers. The five key themes to emerge from the conference were: prioritising carbon abatement and cost outcomes over cherry-picking specific clean energy winners; hydrogen and Carbon Capture and Utilization (CCU) being the topics of the moment with a focus on preparing the existing market and building clean molecules instead of clean electrons; the deployment of existing technologies and building the first commercial projects; the financing and deployment of projects to bridge emerging technologies from tech viability into real-world deployments; and the slow progress on permitting and NIMBYism. Climate founders attending the conference included Solugen founder Gaurab Chakrabarti, who praised Houston’s efforts to become the global leader in clean energy innovation; Quaise founder Carlos Araque, who claimed oil and gas industry leaders had no intention to meaningfully contribute to decarbonisation; and Monolith founder Rob Hanson, who noted that it was time for start-ups to start delivering on their promises.
It is important that carbon credit schemes also benefit local communities.
The World Meteorological Organisation has stated that 193 countries have given unanimous backing to a scheme to monitor global greenhouse...