4
Oct
2023
Net Zero 2050 in crisis?
Day 3 ADIPEC Exhibition and Conference 2023 has put into sharp focus the energy sector’s growing acceptance that Net Zero 2050 is well off track. Diala Hawila of IRENA presenting on the ADIPEC strategic panel on decarbonisation, has pointed out that of the US$1.3trn invested in the energy transition 2022, 85% of these investments happened in China, Europe and North America: ‘this means that in a lot of big parts of the world, nothing is happening’.
It has been hard to find any industry commentator at ADIPEC holding the view that Net Zero 2050 is going to happen. This raises major questions on policy and investment at COP28 UAE coming up in November. The next 8 weeks are going to be very interesting!
A further thanks to clients and connections who reached out to the HFI team on Day 3 (Hall 14-380 – OGV Pavilion) and a special mention to Rashid Alshukeily at Leaders Oilfield Equipment L.L.C. and Khalid Al Qubaisi at Al Yaseah OGISS L.L.C. Group who have been pillars of strength in supporting HFI’s clients in their Abu Dhabi ventures.
