Vision: What is the True Cost of the Energy Transition? Powered by Saudi Aramco - #FII7 Day 1
18"Vision: What is the True Cost of the Energy Transition? Powered by Saudi Aramco" took place at the Future Investment Initiative 7th Edition on October 24th, 2023.
A growing coalition of governments and private actors have committed to a wholescale energy transition over the next two to three decades, yet financing this radical shift remains a challenge, as global energy consumption continues to rise. McKinsey Global Institute's estimate of a US$275 trillion cost for achieving a net-zero world by 2050 raises concerns, while 675 million people lack access to electricity, according to the World Health Organization. Can the world afford to fully transition from a system that has reliably supplied energy for centuries, are the risks associated with such a swift transition well understood, and will a realistic balance be struck between emission reduction and economic development?
Moderator:
Dr. Atul Arya, Chief Energy Strategist, S&P Global
Speakers:
-Fahad Al-Dhubaib, Senior Vice-President, Strategy & Market Analysis, Saudi Aramco
-Dr. Samir Saran, President, Observer Research Foundation (ORF)
-John Studzinski, Managing Director & Vice Chairman, PIMCO
-Chuka Umunna, Managing Director, Head of EMEA ESG & Green Economy Investment Banking, J.P. Morgan