Energy and Natural Resources group hosts first ‘energy trilemma’ round table of 2024

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The theme of the discussion was financing the energy transition in the context of the energy trilemma (affordability, sustainability and security). With the increased security risks to global supply chains (Ukraine, Middle East and the tensions between Venezuela and Guyana), security of supply is again coming to prominence in the energy trilemma. However, sustainability and affordability are competing for attention.

As with previous energy trilemma discussions, the conclusion that government support is needed remains. New, clearer and effective regulation (not simply more) is needed, alongside financial incentives to facilitate the acceleration of the energy transition.

Discussion that the energy transition is well underway The theme of the discussion was financing the energy transition in the context of the energy trilemma (affordability, sustainability and security). With the increased security risks to global supply chains (Ukraine, Middle East and the tensions between Venezuela and Guyana), security of supply is again coming to prominence in the energy trilemma. However, sustainability and affordability are competing for attention.

It is clear from the discussion that the energy transition is well underway and there is no turning back. The need to move rapidly and at scale is clear; however, the complexity and confusion of which technology to use, and the risks involved in the deployment of new technologies at scale, means incentives are needed.

As with previous energy trilemma discussions, the conclusion that government support is needed remains. New, clearer and effective regulation (not simply more) is needed, alongside financial incentives to facilitate the acceleration of the energy transition.