Achieving Global Energy Security and Reducing Carbon Emissions Share Spotlight in Davos
Author: Carolyn Davis
Achieving geopolitical stability and global energy security shared the limelight this week as top business and government leaders made their annual trek to Davos, Switzerland. The annual meeting of the World Economic Forum (WEF) addressed worldwide inequity and the chances for a recession. However, several sessions focused on two points: Russia’s invasion of Ukraine, intertwined with a call to sharply reduce global greenhouse gas emissions. IRA directs billions toward climate and energy policies. It is designed to invest in infrastructure that in part would put the country on track toward net-zero emissions by 2050. Hollub, who has praised the IRA previously, also called the legislation key to helping move toward lower emissions. “It’s an important bill for us, in that it does provide subsidies, not just for carbon capture but for electric vehicles, for lithium and for many other things that will help the energy transition.” Saudi’s ambitions toward a low-carbon economy are big, as the country is one of the top oil producers in the world. Al Saud noted that Saudi companies “are active in 21 countries, deploying solar and wind energy and other sorts of renewable energy.