Energy and industrial transitions: how to address their time factor?
Manufacturing and especially cement, chemicals, and the carmakers are the second largest source of green-house gas emissions behind the energy production, and therefore is a key contributor in the race to zero. In Europe, Emission trading system allowances (ETS) applicable regulations and a range of subsidies encourage companies to reduce their emissions at a fast pace, which means investing in clean-energy technologies. However, while the energy transition requires rapid change, returns on such investments are difficult to measure. The time required for industrial processes to transition to decarbonized solutions (from prototypes to mass production), the depreciation of existing assets, the impacts in terms of sales figures and risks related to customer satisfaction make the equation complex. So, the question is, how can these two timeframes be reconciled? Major industrial companies will share their vision of how industry can adapt to the energy transition.