As the energy demand grows and clean energy investments near $2 trillion in 2024, the need for materials is rising. In a volatile geopolitical and technological landscape, where should leaders focus to effectively shape the geoeconomics of energy and materials?
Whilst Trump was busy signing an order to withdraw the US from the Paris Climate Agreement for the second time, Meghan O’Sullivan, the director at the Belfer Center for Science and International Affairs at Harvard University, spoke at the World Economic Forum’s Annual Meeting in Davos, held in Switzerland from 20-24 January 2025. O’Sullivan shed light on the epic failure of the “Energy Transition,” and stated:
“Two trillion dollars invested in clean technologies in 2024 has not amounted to something we could really qualify as success at this point”
VIDEO: Exract from DAVOS AM25, World Economic Summit Panel on: The Geoeconomics of Energy and Materials
Speakers: Fatih Birol, Meghan O’Sullivan, Maria da Graça Carvalho, Kgosientso Ramokgopa, Muhammad Taufik, Jonathan Price – January 21, 202509:30–10:15CET (Source: WEF)
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Why such a headwind?
1) Resurgence of Energy Security as a priority
2) Geopolitics
3) Global shift in Politics – Shift away from Energy Transition towards the development of fossil fuel. Solution Rethinking the Energy Transition in a way that recognizes Energy security – Need for more analysis and less advocacy
Solution
Rethinking the Energy Transition in a way that recognizes Energy security – Need for more analysis and less advocacy
Conclusion
Meghan O’Sullivan demonstrates the intellectual integrity necessary to acknowledge what can only be characterized as a costly and significant failure on the part of the Global Energy Transition Team. Nevertheless, the solutions she proposes appear to be more technocratic than grounded in practical application. Blaming the Global South for its reluctance to adopt the ideologies of those promoting the “Climate Change” narrative will not contribute to the advancement of this agenda, actually quite the contrary. The Energy Transition can be viewed as a Public Private Partnership (PPP), primarily benefiting those who have profited from the fossil fuel and mining sectors for over a century, while simultaneously suppressing alternative technologies that could have offered the world clean and affordable energy.
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