In this episode, Charles ‘Chad’ Holliday, former Chairman of Royal Dutch Shell, discusses the seven hardest to abate energy sectors. He shares his insights on the challenges these sectors face and potential solutions to achieve a net-zero carbon future.
Chad starts by talking about the seven hardest to abate energy sectors, which include heavy-duty transport, aviation, shipping, cement, steel, chemicals, and long-distance heating and cooling. He explains that these sectors pose a significant challenge due to their heavy reliance on fossil fuels and limited alternatives.
He highlights the need for collaboration between governments, industries, and investors to facilitate the transition to a low-carbon economy. Clear targets and policies must be set to encourage innovation and investment in clean energy technologies.
The discussion then moves on to the role of carbon capture, utilization, and storage (CCUS) in reducing emissions from these sectors. Chad explains that while CCUS has great potential, it is still in the early stages of development, and more research and investment are needed to make it a viable solution.
The former Chairman of Royal Dutch Shell also touches on the success of a global carbon price in other countries to incentivize the shift towards a low-carbon economy. Carbon prices create fair competition among businesses and encourage investment in clean energy technologies.
In conclusion, the speaker underscores the importance of collaboration and innovation in driving the transition to a net-zero carbon future. Despite the significant challenges posed by the hardest to abate sectors, a combination of policy, technology, and investment can overcome them.