We know that to achieve net zero greenhouse gases by 2050, decarbonising electricity generation whilst producing more of it is critical. Different countries are setting out their renewable energy ambitions and some are in enviable positions already:
- Iceland already derives 85% of its energy supply from naturally occurring geothermal sources including hot springs and volcanos;
- in the US, Vermont produces 100% of its electricity supply from its utility scale investments in hydro-electric power and wind farms;
- Norway leads globally in electrical vehicle adoption at 23% of all passenger vehicles; and
- the UK has stated its ambition to produce 5 times as much offshore wind capacity by 2030 as it has today to become ‘the Saudi Arabia of wind power’.
This type of vision and purpose is deeply appealing to millennial talent who increasingly seek careers with ‘purpose’-driven organisations. This can only favour those energy organisations who place technological innovation and net zero targets at the core of their strategy.