Exploring Global Energy Transformation Solutions Global | Energy | Solutions
Energy transformation is one of the six core themes of the 14th Summer Davos Forum. At the multi-stakeholder dialogue forum on "Working Together to Promote Energy Transformation", how countries can take action to accelerate energy transformation and provide safe, just, sustainable, and affordable energy has become a focus of attention.
Simon O'Connell, CEO of the Dutch Development Organization, stated that global energy transformation should be sustainable, safe, inclusive, fair, and inclusive. The transformation cannot be completed in the short term and requires phased steps to accelerate the transformation process. He used his work experience in South Sudan as an example to introduce: "Currently, only 7% of the population in South Sudan has access to electricity. From 7% to 100%, from energy to clean energy, this popularization process cannot be achieved overnight and requires' climbing stairs'." Simon believes that when designing energy transformation solutions, local realities should be considered. Energy transformation is a vast system that requires strengthening international cooperation and launching feasible solutions that are tailored to the characteristics of different regions. In addition, small and medium-sized enterprises occupy a considerable proportion in the private sector, and more effective measures should be taken to encourage their participation in this process.
Effectively addressing climate change and promoting energy transformation are key. Xin Bao'an, Chairman of State Grid Corporation of China, stated that the most important aspect of promoting energy transformation is to promote clean, low-carbon, and efficient energy development. Increasing the proportion of electricity in terminal energy consumption is crucial for promoting energy transformation. "We actively carry out activities to replace coal with electricity, oil with electricity, and gas with electricity, and increase the proportion of electricity in terminal energy consumption. Currently, China's electricity consumption proportion in terminal energy has reached 27%, which will be further increased in the future," said Xin Bao'an.
The global energy transformation is accelerating into the fast lane. According to the 2023 Sustainable Development Financing Report, global energy investment surged to a record $1.1 trillion in 2022, surpassing fossil fuel investment for the first time. The latest World Energy Investment Report released by the International Energy Agency also shows that by 2023, global energy investment is expected to be about 2.8 trillion US dollars, of which over 1.7 trillion US dollars will be used for clean energy technologies such as electric vehicles, renewable energy, and storage. Among them, investment in the solar energy industry will surpass that of oil for the first time in 2023, with an estimated $380 billion invested in the solar energy industry throughout the year.
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Zimbabwean Minister of Commerce and Industry, Sekai Enzeza, stated that Zimbabwe is accelerating its energy transformation and hopes to seek more energy investment and cooperation. She said that Zimbabwe can enjoy sunshine for 365 days, which is very suitable for utilizing solar energy. In the future, she hopes to develop solar energy through regional integration and international cooperation, adopt more new technologies to facilitate the lives of local people, reduce carbon emissions, and respond to energy shortages and crises with new energy solutions.
"We are willing to strengthen exchanges and cooperation with peers and countries around the world, and share development achievements." Xin Bao'an stated that in the future, we will strengthen cooperation in the development and utilization of green energy, connectivity of energy infrastructure, and coordination of energy planning and policies. At the same time, we will work with enterprises, universities, research institutes, and international organizations to strengthen research on basic theories and applied technologies of energy transformation, actively participate in the formulation of international standards, and strive to contribute more Chinese wisdom and solutions to promoting global clean and low-carbon energy transformation.