A continuation of (Episode 14) the discussion with Nneka Matthews on the implications of the ongoing energy transition.
Matrix or Star Trek? What will out future be?
Our current production and consumption patterns are approaching the limits of the earth's ecological capacity, and even exceeding it. Earth overshoot Day was recorded on 22 August 2020. On that day we exhausted the earth's ecological budget! https://www.overshootday.org
The unsustainable nature of our economic models is manifested in negative social, environmental and economic impacts: biodiversity loss, deforestation, civil unrest, diseases, and more.
As we confront the effects of climate change, the increasing demand for sustainability is disrupting energy and economic systems. Countries and corporate entities are facing increased pressure to decarbonise and account for environmental and social impacts, not just returns to shareholders. In addition to conscious behaviour we also need new business models that are responsible in their use of resources.
International energy companies have declared commitments to net zero targets to reduce CO2 emissions, signalling a major change in the sector. This ambitious goal will not materialise overnight.
While fossil fuels will continue to be a part of the energy mix, investments in alternatives, namely renewables and energy efficiency, are increasing.
Change is happening. How do we participate in this change? How do we in Trinidad and Tobago, and the Caribbean region create the future we want?
It is impossible to move forward without making sustainability a central consideration in energy, economic and social systems.
Nneka is optimistic about Trinidad and Tobago's energy future and its value proposition in the changing energy landscape.
We identified some of the critical factors for participating in the evolving energy systems driven by the sustainability transition:
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