Climate Change a new Challenge for Energy Business

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Climate Change a new Challenge for Energy Business

• FLOW ENERGY S.A
• Teresa Fokianou

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Climate change is happening now

• Global climate change is the key concern of our
  century, with a serious impact in our social and
  economic growth.
• A global problem that requires a global action
• Kyoto Protocols emission targets expire in 2012.
  
• EU emergency target global warming must be
  limited to 2?C above the pre-industrial level.
• The target is technically feasible and
  economically affordable if major emitters act
  urgently.

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• Source EU Action against climate change (edition
  2008)

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A new Energy challenge

• Energy demand still rising rapidly, especially in
  developing economies.
• Fossil fuels will have significant role to supply
  energy for the next decades.
• Emissions rising to much.
• Development and deployment of new technologies is
  essential.

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What makes this challenge tougher

• High prices havent stopped the energy demand to
  grow rapidly, especially in developing economies.
• We are running short of our traditional energy
  resources.
• Easily accessible oil and natural gas will
  probably no longer keep up with demand in the
  coming decade.
• Emissions rising to much.
• The world will have no other choice but use
  energy more efficiently and increase its use to
  alternative energy sources.

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What are the options

• No single energy source or technology can both
  meet demand and reduce CO2 emissions.
• Balance between climate and energy security
  requires portfolio of solutions.
• Energy efficiency must play a more important
  role.
• There will be an increase in alternative energy
  solutions.
• Carbon capture and storage (ccs) can be very
  important part of the solution.
• Nuclear energy, Renewable energies, like solar,
  wind, bio-fuels, important technological
  possibilities.
• The development of unconventional resources will
  contribute to energy security and supply.
• New technologies will enable coal be burnt more
  cleanly and efficiently in the future.
• High investments are needed for the
  transformation.

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• Source EU Action against climate change (edition
  2008)

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What oil companies can do

• Develop reserves and resources both in mature
  basins and new frontiers
• Reduce their own emissions wherever they
  operate
• Promote energy efficiency to consumers
• Promote a better understanding of climate change
  mechanisms and use their specialist knowledge of
  the energy worlds
• Promote alternate and renewable energies
• Develop and demonstrate efficient and reliable
  solutions to capture and sequestrate CO2
• Make appropriate investments.

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Call for action

• A global agreement is important for the business
  community for a coherent ,stable and efficient
  policy framework to guide its long term
  investments decision.
• Governments and policy makers must to create the
  long term market base policies to make it
  worthwhile to invest for a low carbon economy.
• A low carbon global economy is a huge opportunity
  for business especially in terms of technical
  innovation ,which can drive economic growth and
  the creation of new jobs.

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Climate Change a Challenge for Energy Business

• Energy Challenge requires coherent global
  policy action across all key sectors and along
  the full technology path and supply chain.
• This will enable innovation and investment
  confidence through public and private partnership
  that deliver sustainable low carbon fuels and
  renewable source, that are clean cheap and
  available.
• 
  Thank you