Climate and energy transition:
A call for action
Climate change is one of the biggest challenges of our time and a clear call for action. We acknowledge the findings of the Intergovernmental Panel on Climate Change and other scientific consensus that human activities contribute to global warming with detrimental effects on nature, people and society at large. We recognise that the world's energy systems must be transformed in a profound way to drive decarbonisation, while at the same time ensuring universal access to affordable and clean energy and realising the United Nations Sustainable Development Goals.
Achieving the ambitions of the Paris Climate Agreement will require significant efforts from both governments, companies and wider society – significantly more than the current pledges made by countries. We are collectively not doing enough. The urgent need for climate action has been highlighted by the Intergovernmental Panel on Climate Change’s Special Report on Global Warming of 1.5ºC, launched last year.
By 2020 we expect up to 25% of research funds to be devoted to new energy solutions & energy efficiency.
Aiming to achieve annual CO2 emission reductions of 3 million tonnes by 2030 compared to 2017.
By 2030 new energy has the potential to constitute around 15-20% of investments/annual capex.