The Diplomat
The chairman of Iberdrola, Ignacio Galán, yesterday told political leaders attending the World Economic Forum in Davos the measures he believes must be adopted now, this year, to break the cycle of crisis driven by oil and gas, and provide energy security through clean energy as soon as possible.
On Monday, the company presented a new report entitled ‘Electric, Together’, as a call to action addressed to global policy makers, companies in the energy and industrial sectors and other economic and social actors, which reveals the challenges that remain to be resolved in the energy transition, establishing the best ways to achieve this goal at great speed.
In this regard, Iberdrola recalled that it will invest 47 billion between 2023 and 2025 to improve the energy system in the United States, Europe, the United Kingdom, Latin America and Asia-Pacific.
For the company, the five fundamentals for moving rapidly towards green energy security are accelerating the deployment of smart grids, accelerating renewable generation projects, expanding the use of green hydrogen as a solution for hard-to-decarbonise industries, greater innovation to drive climate solutions, and not losing sight of the long-term goal of decarbonisation.
“The harsh reality is that the world continues to rely on fossil fuels to meet nearly 80% of its energy needs, exposing us all to unnecessarily high levels of uncertainty, inflation and pollution. Every day that the world fails to act, its citizens and businesses remain trapped by international energy volatility and the window for addressing climate change closes,” Galán said.
“It is both worrying and ironic that unusually cold winter temperatures caused by climate change have spared large parts of the northern hemisphere from much more serious threats to energy security this winter. We can and must do much better in 2023 and work quickly to deliver green energy security,” he said.
