The Paris Agreement has sent a signal around the world: climate change is a serious issue that governments are determined to address. Shell has published its latest energy-system scenario, called Sky, which illustrates a technically possible, but challenging pathway for society to achieve the goals of the Paris Agreement.
As Sky builds on earlier work, it seems to be the most optimistic scenario in terms of climate outcomes. The Sky scenario is set to be a technologically, industrially, and economically possible route forward, consistent with limiting the global average temperature rise to well below 2°C from pre-industrial levels. But while encouraging news, success towards this aim is not guaranteed. The Sky scenario relies on a complex combination of mutually reinforcing actions by society, markets and governments.
After a presentation by Dr. Cho-Oon Khong (Chief Political Analyst at Shell) about the Sky scenario, our colleague Tias van Moorsel sat down with Tim Rockell (Director Energy & Natural Resources, KPMG Global Energy Institute Asia Pacific) and Peter Godfrey (Managing Director Singapore, Energy Institute) for a panel discussion and questions from the audience. We discussed the challenges on the electrification of the energy and transport sector, carbon capture, the rate of decline of fossil fuels, carbon pricing, finance, government, societal and stakeholder pressures and eradicating energy poverty. It was great to see the conversation carrying on in the networking session after the presentation and panel discussion.
A special thanks to the teams from ADB-DutchCham (Dutch Chamber of Commerce Singapore) and British Chamber of Commerce Singapore (BritCham) for the organisation and involving Steward Redqueen.