Under the High Patronage of the President of the Italian Republic

Energy transition summit

Driving energy for inclusive prosperity

The Energy Transition Summit is an exclusive platform for the World Energy Council’s community and energy leaders of the region to explore new energy futures, critical innovation areas and new strategies that are enabling the grand energy transition.

The Summit takes place at a time of extraordinary change, with a new pace of innovation presenting new emerging risks and opportunities for the energy transition. With an expected gathering of more than 200 energy delegates, the Energy Transition Summit is an opportunity for energy leaders to advance in dialogue as we work together to deliver practical solutions for sustainable, secure and inclusive energy systems that provide prosperity for all.

The agenda will build upon insights gained from the World Energy Council’s on-going studies, including the World Energy Trilemma, World Energy Issues Monitor and the World Energy Scenarios.

The Energy Transition Summit takes place during the Council’s annual World Energy Week, during which the World Energy Council’s member committees and leadership meet to exchange and brainstorm on key, current energy issues.

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August 8, 2018

Dynamic Resilience

Cyber risks are growing in terms of both their sophistication and the frequency of attacks. The attacks take many forms and have different degrees of impact.

The cyber-resilient business brings together the capabilities of cybersecurity, business continuity and enterprise resilience. It applies fluid security strategies to respond quickly to threats, so it can minimize the damage and continue to operate under attack. As a result, the cyber-resilient business can introduce innovative offerings and business models securely, strengthen customer trust, and grow with confidence.

From the Accenture Studio, that will be presented at the World Energy Week, October 8th-11th 2018, in Milan, we can identify five steps to cyber resilience:

  1. Build on a strong foundation: harden and protect core assets. “Hardening” high-value assets means making it as difficult and costly as possible for adversaries to achieve their goals and limiting the damage they can cause if they do obtain access. Design and execute your overall security program with cyber attacks in mind.
  2. Pressure-test your resilience: coached incident simulation. Threat intelligence and advanced adversary simulation techniques are used to raise sophistication and realism in simulated attacks. The defence team gains from experienced player-coaches who are in close contact with the fake hacker and use threat intelligence to better anticipate attacks.
  3. Employ breakthrough technologies: automate defenses. By rebalancing their funding and investing in breakthrough innovations, organizations have an opportunity to evaluate potential overspending in areas like these and create the investment capacity to deliver more positive value.
  4. Use intelligence and data to be proactive: threat hunting. Organizations should not feel they can only activate their incident response plans in the event of a breach. Today, the best approach is to adopt a continuous response model—always assume you have been breached— and use your incident response and threat hunting teams to look for the next breach with the goal to “find them before they find you.”.
  5. Evolve the role of the CISO: business leadership. The next-generation CISO (Chief Information Security Officer) should be business adept and tech-savvy. With new reporting structures and elevated levels of governance within the organization, CISOs need to rethink their approach to the role.

August 8, 2018

Global and regional energy transition

In an era of accelerating change, the imperative to limit climate change and achieve sustainable growth is strengthening the momentum of the global energy transformation.

The IRENA’s Roadmap to 2050 of Global Energy Trasformation and our annual World Energy Issues Monitor illustrate an exhaustive overview of the current situation and the immediate future. The rapid decline in renewable energy costs, improving energy efficiency, widespread electrification, increasingly “smart” technologies, continual technological breakthroughs and well-informed policy making all drive this shift, bringing a sustainable energy future within reach. The energy system, consequently, requires rapid, immediate and sustained change.

Currently, emission trends are not on track to meet that goal. Government plans still fall far short of emission reduction needs. Under current and planned policies, the world would exhaust its energy-related “carbon budget” (CO2) in under 20 years to keep the global temperate rise to well below 2°C (with 66% probability), while fossil fuels such as oil, natural gas and coal would continue to dominate the global energy mix for decades to come.

The deployment of renewables must increase at least six-fold compared to the levels set out in current plans. The share of electricity in total energy use must double, with substantial electrification of transport and heat. Renewables would then make up two-thirds of energy consumption and 85% of power generation. Together with energy efficiency, this could deliver over 90% of the climate mitigation needed to maintain a 2°C limit.

The WEC’s World Energy Scenarios 2017 give us furthermore a report about the Latin America and the Caribbean (LAC) energy scenarios. Their economies are facing a difficult time following a period of prosperity, driven by a decade-long commodity price boom. At the start of 2017, commodity price uncertainty remained as the most important issue impacting the decision making of energy leaders around the world. This uncertainty is heightened by the concern of many in the region that lower economic growth will become a continuing reality. Leaders need to manage this situation.

August 28, 2018

Overcoming Energy Trilemma

The World Energy Council’s definition of a successful energy transition has three core dimensions: energy security, energy equity, and environmental sustainability.

The World Energy Council’s definition of a successful energy transition has three core dimensions: energy security, energy equity, and environmental sustainability. Together, these three elements constitute a “trilemma”, which need to be balanced to facilitate the energy transformation.

The Council’s World Energy Trilemma report rates countries’ energy policy and performance around the world and provides a framework to monitor progress and to identify the best policies to improve our energy systems. Looking at different Trilemma balances across the G20 countries provides important insights about successfully negotiating policy for a sustainable energy transition.

With conflicting stakeholder interests and certain tradeoffs, this trilemma represents three interconnected issues. While energy consumers generally think about equity, that is affordability and reliability of electricity, they may not have any care to know about the source of electricity, be it traditional or alternative. In the same way, policymakers may often consider access to electricity, that is number of consumers, but not always reliability. furthermore, if the energy sector is to deliver on climate targets and support the achievement of development goals, it needs to do so balancing with the other two dimensions, to guarantee sustainability of energy systems. Such is the complexity of energy trilemma. Building on broad consensus for the transition in energy supply, the policymakers need to set clear and straightforward energy targets through a greater dialogue with business and finance. Meanwhile, it is necessary to look into the instruments that can attract investment in the sector.

August 28, 2018

Technological Innovations

Innovation need to be broader than just technological research, development and demonstration. Improved technology need to be accompanied by and integrated with innovations in business models, policies, processes and market design.

Technology innovation has been and will keep being a critical enabler of progress, but innovation priorities need to be refreshed to face the new challenges of integrating high shares of renewable power and electrifying the end-use sectors of transport, industry and buildings. Innovation need to be broader than just technological research, development and demonstration. Improved technology need to be accompanied by and integrated with innovations in business models, policies, processes and market design.

Energy systems around the world are already undergoing major changes, driven by a combination of technological innovations, the need to widen affordable energy access and the urgency to tackle climate change. This global energy transformation can pave the path for a more inclusive, secure, cost-effective and sustainable future. Innovation can accelerate progress, now we have many of the tools we need to transform the energy system, however innovation is still necessary in many aspects of the energy system to address vacancies in capability and to support accelerated progress.

Government support is essential: the private sector typically will not invest in early-stage innovations, mainly because of the uncertainty of their market potential. Governments’ first role, consequently, is to fund research, so that the private sector can subsequently refine and ultimately bring to market the best innovations. Moreover governments have another enabling role regarding the innovation topic given by the policy-driven nature of the transformation.