In a world where energy consumption results in 66% of global greenhouse gas emissions, senior leaders in the public and private sectors need to find ways to navigate a rapidly changing energy landscape while meeting increased pressure to combat climate change and keep global warming below the 2oC target, according to A T Kearney.
Access to new sustainable and increasingly cost competitive energy technologies is accelerating and presents both strategic investment opportunities and implications across the energy value chain, A T Kearney believes.
In response to these challenges and opportunities, the energy consultancy and advisory firm has launched the A T Kearney Energy Transition Institute to provide decision-makers with strategic recommendations, based on objective research combining deep technology expertise with business acumen and foresight.
The Energy Transition Institute is meant to be a non-profit independent energy research body that extends its impact through collaboration with third-party companies and a global network of academic experts.
The main scope of research by the Institute is to provide insights covering technological insights and economical perspectives of climate change, mitigating global warming; energy security, ensuring safe and reliable energy; energy costs, providing efficient, affordable energy; and social acceptance, meeting end-users’ demand for sustainable energy solutions.
The new institute was formed as a result of A T Kearney making an acquisition of The Hague-based SBC Energy Institute. Commenting on the acquisition, Antoine Rostand, board member of the A T Kearney Energy Transition Institute said, “I am delighted to have A T Kearney as the main partner of the former SBC Energy institute. This new collaboration will focus the Institute’s research efforts on energy transition as well as extend its reach and impact in the market.”
“The unrivalled energy technology insight of the Institute combined with the deep strategy and energy expertise of A T Kearney will create a powerful player to inform decision-makers on their complex energy transition journey. Through our joint efforts we will enable leaders across industries to make the right strategic and transformative choices founded on a deep understanding of energy transition trends,” Rostand was quoted in the press release sent to arabianoilandgas.com.
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The Energy Transition Institute has produced research in areas such as solar PV, gas hydrates, carbon capture and storage, wind, smart grids, and energy storage. Through close collaboration with academics, industry experts, and private and public sector leaders, the Institute will continue to address the most pressing emerging topics such as the impact of decarbonisation, electrification, decentralisation, and digitalisation on the future of energy transition.
“UAE, Saudi Arabia and Kuwait offer large opportunities for the advancement of sustainable energy projects,” commented Kurt Oswald, lead partner of the A T Kearney Utilities Practice in the Middle East and board member of the A T Kearney Energy Transition Institute.
Kuwait has ambitious plans to leverage renewable energy to meet the rapidly growing electricity demand. Like the UAE, Kuwait has adopted a strategy whereby it focuses on diversification in the sources of energy production to avoid an increase of greenhouse gas emissions by 2035.
“Energy transition is accelerating and is reshaping the energy value chain. It has profound consequences for our clients and impacts entire industries, including oil and gas, utilities, equipment manufacturers, automotive, transportation, infrastructure, and governments,” said Richard Forrest, chairman of the board of the A T Kearney Energy Transition Institute and global lead partner of the A T Kearney energy and process industry practice.
“Our investment in the Energy Transition Institute reinforces our commitment to stand side by side with our clients to identify how best to capture the opportunities and address the challenges faced in this uncertain shift,” he said.
