TRANSITION TO NET ZERO WITHING THE POWER SECTOR TO BE EQUAL AND OBJECTIVE
The commitments made during COP26 will see the need for collaborative decarbonisation throughout the industry. Through COP26 the Energy Industry has launched what they call ‘Powering Net Zero Pact’ as part of the COP26 legacy that will mandate the changes needed to decarbonise the energy industry. With this ‘Pact’ will address the need for the private sector to join the ground-breaking initiative to reach net zero across the industry.
The Pact, consists of 11 founding partners operating in 100 countries, having the combined turnover of ~£55 billion and employ roughly 240,000 people, have committed to investing a minimum of £16 billion pounds to develop net zero activities that support human rights, sustainable jobs and local communities within the energy industry.
Between the founding partners work is being done on some of the largest low-carbon infrastructure projects in the world. These include the £3.6 billion investment in the Dogger Bank wind farm, which will be the world’s largest offshore wind farm. The Dogger Bank Teesside A and B Offshore project will include up to 400 turbines across two wind generating stations, each with an installed capacity of up to 1.2GW. It is expected to generate enough electricity to power around 1.8 million homes.
Alongside the Dogger Bank wind farm there will also be investments of £3 billion pounds into Scotland’s largest offshore wind farm Seagreen, £580 million pounds to Viking onshore wind farm, which will be Europe’s most productive onshore wind farm as well as billions of pounds in investment in the electricity transmission and networks.
Alistair Phillips-Davies, SSE Chief Executive, said:
“The climate emergency and the need to secure more stable and affordable energy supplies have accelerated the transition to a low-carbon future. But as we are all swept up in the race to net zero we have a duty of care to ensure no one is left behind. And not just in our own operations. At SSE we are doing all we can to understand what we need to do to make the transition a fair and just one, on these shores and beyond.
“Collaboration will be key in achieving the best possible impact on lowering emissions and supporting the natural environment whilst ensuring the mistakes of past industrial transformations aren’t repeated. Today we are very proud to have brought together this coalition of the willing, as we look to translate our experiences and help and learn from others to develop firm action and tangible results. The Powering Net Zero Pact is a perfect example of private companies taking matters into their own hands – not just to reduce carbon, but to make sure people benefit from a fair and just transition too.”
Steve Scrimshaw, Vice President, Siemens Energy UK & Ireland said:
“Tackling climate change is an enormous and complex challenge. We can’t do this alone, that’s why Siemens Energy is delighted to join our partner SSE and other businesses to sign the Powering Net Zero Pact. This pact proudly unites key players from our industry and builds on the legacy from COP26 and our collective net zero commitments. We all recognise that what’s good for the planet is ultimately good for business. We are convinced that climate protection and economic growth can be two sides of the same coin.”
Clark MacFarlane, Managing Director UK and Ireland, Siemens Gamesa said:
“As a key supplier to SSE on their major projects, as well as our wider global portfolio, we are hugely supportive of this initiative and the work being undertaken to grow the profile and necessity for delivering renewable generation sustainably. We have already taken considerable strides on this journey and are proud of our extremely high environmental credentials and will continue to collaborate with SSE and our other customers and suppliers to reach the ultimate goal of net zero.”
Alexander Kara, President and CEO of NKT, said:
“I am proud that NKT is one of the founding members to the Powering Net Zero Pact, as we are committed to connecting a greener world in a sustainable way. As one of the world’s major power cable manufacturers we play an important role in the transition to renewable energy and the decarbonisation of society, and we are happy to support our partner, SSE, in this great initiative.”
Lisa Ekstrand, VP of sustainability at Vestas, said:
“We are pleased to join SSE and the other founding partners in the collaborative journey towards a just energy transition for net zero. Ranked as the world’s most sustainable company in 2022 by Corporate Knights, we are already well underway towards these shared commitments, including a SBTi approved target for carbon neutrality of our own operations by 2030, a 45% reduction of supply chain emissions intensity, and the creation of a zero-waste wind turbine. We look forward to working with like-minded companies to further accelerate progress towards a truly sustainable energy system that brings value to all stakeholders in harmony with the natural world.”
Ian Funnell, CEO of Hitachi Energy in the UK, said:
“Collaboration is key to ensure we transition to an energy system fit for a carbon neutral world. We are proud to stand alongside our key partner SSE and the wider industry in signing up to the commitments in this Powering Net Zero Pact today.”
Bruce Clark, Joint Managing Director of RJ McLeod (Contractors) Ltd. said:
“RJ McLeod are delighted to be one of the founding members of the Powering Net Zero Pact and look forward to taking an active role in this initiative in the months and years ahead.”
Marcelo Xavier, EVP Strategy and Sustainability at Subsea 7 said:
“The energy transition is going to be an incredible journey. Through the continuous evolution of lower-carbon oil and gas and by enabling the growth of renewables and emerging energy, Subsea 7 is delighted to be a founding member of the Powering Net Zero Pact and partner with industry to deliver the offshore energy transition solutions the world needs, for today and tomorrow.”