- For the energy transition to be sustainable and effective, decision-makers need to take a system value approach.
- This means looking beyond the bottom line to consider the broader social, economic and environmental value of our decisions.
- The World Economic Forum’s Electricity Industry Action Group has developed a new system value framework designed to do just that.
Claudio Facchin, President and Chief Executive Officer, Hitachi ABB Power Grids
- The path to an integrated zero-carbon energy system needs to take into account not only cost, but also system value.
- The journey towards a sustainable energy transition has three stages.
- Investments in renewables, efficiency and the grid come first and remain essential throughout the path.
- The COVID-19 pandemic has made us all more reliant on digital tools for connection and communication;
- Dealing with COVID-19 restrictions an physical distancing rules, young people and youth-led protest movements have embraced digital technologies to campaign and raise awareness;
- From climate change activism to fighting for racial justice, youth activists are continuing to fight inequalities online.
Priyanka Jaisinghani, Managing Editor, Conscious Magazine, Co-Founder of GirlzFTW
Economic growth will eventually return. But its engines will not be the same as before the pandemic. The sooner policymakers recognize this and develop targeted economic-support strategies – which must include a heavy dose of structural reform – the faster, stronger, and more resilient the recovery will be.
Agustín Carstens, a former governor of the Bank of Mexico, is General Manager of the Bank for International Settlements.
Author: Editorial Board, ANU
Authors: John WH Denton and Damien Bruckard, International Chamber of Commerce