2023 will go down in history as a particularly difficult year for the renewable energy sector. The geopolitical situation caused companies involved in fossil fuels, the only ones capable of responding quickly to shortages, to take a dive. Between virtue and the urgent need to find energy sources to replace Russian exports, the market’s choice was quickly made.
With their traditional sense of proportion, the markets have taken note of the gigantic potential of AI (Artificial Intelligence) and ML (Machine Learning) technologies. Even their most enthusiastic critics are struggling to establish the limits of what it will be possible to do with these tools.
Every economic agent is now called upon to consider the impact that AI will have on their business. But the question also arises in the area of climate change, especially as there are real differences of opinion at the moment. At this stage, some see AI as more of a threat than an opportunity.
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His excesses, his megalomania, and his very personal conception of governance have made Elon Musk a particularly divisive figure. However, whether you like him or not, the fact remains that the plan to decarbonise the economy presented last month by Tesla is worth looking into.
2022 was one of the most successful years for the oil and gas industry; the industry is estimated to have made income of USD 4trn vs an average of USD 1.4-1.5trn in previous years. The six largest western oil companies made more money than in any year in the history of the industry: over USD 200bn.
Sovereignty and energy independence being intimately linked, the transition towards decarbonized energy will necessarily be accompanied by a redistribution of geopolitical cards.
The outlook for sustainable investment is diverging globally, simultaneously being propelled forward by regulation in Europe and parts of Asia, most notably in China, and being significantly challenged by growing politicisation and controversy in America.
2023 will be a year of unprecedented policy support.
As Al Gore said at the opening of COP 27 in Sharm El-Sheikh in November, we cannot choose our misfortunes, but we can choose the benefits that come from them, especially when it comes to renewable energy. Indeed, we are in the early stages of a sustainability revolution that will have the scale of the industrial revolution and the speed of the digital revolution.
The drama unfolding in Ukraine signals the end of energy “recklessness” for Europe. The transition to a decarbonised economy has become a top political priority, guaranteeing our future independence.