Time To Get Real: Three Recommendations to the Global Energy Industry

on September 25, 2013 at 10:00 AM

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In its latest report on the energy trilemma of security, equitable access and sustainability, the World Energy Council and its project partner Oliver Wyman polled dozens of policymakers and regulators to find out what they think stakeholders should do to help policy meet the global energy challenge.

“It is time to cut through the present uncertainty and to translate the consensus identified into actions on the ground,” the report says.

Those recommendations included:

1) Be more proactive in improving energy policies

“Greater energy industry involvement can help to bridge the knowledge gap and facilitate effective dialogue by enabling both policymakers and business to speak the same language.”

2) Advance the alignment of risks 

“Overall, interviewees call on the private sector to be ‘less risk averse’ with investments in energy infrastructure and technology.”

3) Assist developing countries with charting a new course

“First, the energy industry and also other investors should engage in dialogue with public stakeholders to identify and lower the barriers impeding investment. Second, the energy industry needs to be more proactive in assisting developing countries with adopting proven technologies, in part by working with them to export ways to reduce the cost of technology transfer.”

For a review of the previous WEC trilemma report from 2012 click here.