Chair's opening remarks

Ministerial address

Session 1 – Global energy strategy panel: Accelerating the energy transition through supportive policy

The global polycrisis has evolved perspectives surrounding energy security, affordability and sustainability. Energy affordability is now at the top of government agendas around the world. Energy security is now inclusive of energy supply paired with the need to develop diversified energy mixes. Energy sustainability now encompasses clean energy beyond decarbonisation, with investment and supportive policy playing a role in fostering the development of new clean energy technologies while also protecting traditional sources and infrastructure. A combination of recent policies like the US Inflation Reduction Act and the European Green Deal are accelerating clean energy supply and technology scalability while promoting demand efficiency and transition-oriented economic growth. 

• What opportunities do policy makers have to remove barriers for approvals, permitting and scale-up of clean energy projects that will facilitate a secure, sustainable energy future?
• The EU Energy Platform played a role in coordinating EU negotiations with external gas suppliers to facilitate access to affordable energy and avoid energy supply disruptions. What impact has this model had at the country level and what are projections for the future?

Networking coffee break

Session 2 - A balanced approach to deliver a resilient energy transition inclusive of industrial and other hard-to-abate sectors

Global economic turbulence and geopolitical tensions highlight the complexities and trade-offs at the core of the energy transition. A balanced approach is needed to deliver a resilient energy transition that encompasses energy affordability, security and sustainability. Multifaceted energy mixes and import diversification will be critical in pursuing long-term net zero commitments while responding to short-term needs. Energy security and sustainability priorities may be aligned through investments in clean energy sources, as well as demand-side measures like energy efficiency. It is also critical to take action on energy-intensive industries, which will require ambitious, collaborations across the entire energy value chain, multiple industries and the wider industrial ecosystem of stakeholders. 

• In creating secure, affordable, sustainable energy supply, what might a multifaceted energy mixes, including wind, solar, hydrogen etc, and import diversification realistically look like going forward?
• How can policy makers incentivise the private investment needed to complement public funding to decarbonise hard-to-abate sectors?

Networking lunch break

Session 3 - The opportunities created through global offshore wind ambitions and overcoming the challenges

Offshore wind—now widely recognised as a proven and reliable source of renewable energy—is likely to continue growing. Expanding government commitments and technology progress are contributing to the positive outlook in established markets and for countries new to offshore wind. More companies are pursuing offshore wind projects—which can involve challenges and risks including commercial requirements to bid, difficult project economics and the capabilities barriers. Despite challenges, the offshore wind industry has the potential to create significant value for companies, communities and countries while delivering reliable, affordable, sustainable energy. Investment will be needed across the value chain—in organisations, processes, technology and people—to fully realise the potential. 

• Portugal is leading the way on offshore wind projects with its first wind auction in 2024. What challenges have been navigated to reach the auction stage? How might this open the path for other renewables opportunities?
• Are there infrastructure, distribution or other operational complements available to maximise the impact of regional renewables?

Networking coffee break

Session 4 – Overcoming barriers to successfully implementing and scaling carbon capture and storage

Scaling the carbon capture and storage (CCUS) industry will require action by governments, investors and industrial sectors. Estimates project that CCUS uptake by 2050 must grow by 120 times for countries to achieve their net zero commitments. Capture at the industrial point source is most important for short- and midterm decarbonisation. The technology is available and it has the potential to capture large emissions volumes from hard-to-abate industries with few other decarbonisation options. That said, several challenges must be overcome before CCUS at the industrial point source can reach scale, especially around inconsistent policy support, unproven revenue streams and complex cost benefits of scaled projects, to name a few. 

• What role can policy play in enabling CCUS projects at a repeatable scale? How do policy makers find balance between direct incentives (like shared infrastructure), indirect incentives (such as carbon prices), regulatory support (such as permitting) and risk management (like offtakers)?
• How can carbon capture industrial hubs be scaled effectively through value chain coordination and collaboration?
• What is the role of EU energy storage at a time of increasing global demand?

Chair's closing remarks

Drinks reception

Chair’s opening remarks

Ministerial address

H2Med project country minister address

Session 5: The role of low-emission hydrogen in meeting climate ambitions: Removing barriers to production and stimulating demand

A challenging economic backdrop means policy support for new hydrogen projects is needed to deliver investments. Momentum behind low-emissions hydrogen and announced projects continues to grow but progress is slow as developers wait for government support before making investments. Additionally, demand for low emissions hydrogen lags behind what is needed to meet climate ambitions, including insufficient off-takers to underpin large-scale investments, jeopardising the viability of the entire low-emission hydrogen industry. The best prospects for low-emissions hydrogen use are in hard-to-abate industrial sectors, by replacing hydrogen produced from unabated fossil fuels, but progress has been slow. 

• Regulation and certification remain key barriers to low-emission hydrogen adoption; how can strong international collaboration facilitate solutions?
• How can we encourage action in the private sector, combining support measures with regulations stimulate the adoption of low-emission hydrogen in existing applications? How can they be complemented in priority sectors such as steel, shipping, transport and more?

Networking coffee break

Session 6: The role of technology innovation and policy in advancing heavy industry decarbonisation

Besides their critical role today, heavy industry sectors will provide many of the key inputs required for a sustainable transition of the energy sector (i.e., steel requirements in the creation of wind turbines). But to contribute to a sustainable path toward a clean energy system, industry sector emissions must be substantially reduced despite an increase in demand for their outputs. Technologies and strategies are commercially available today that can play an important role in reducing heavy industry emissions, including technology performance improvements, material efficiency, fuel switching, and the electrification of low- and medium-temperature heat. But to achieve deep emissions reductions in heavy industry, innovation in process technology is required. 

• CCUS and hydrogen are both recognised as critical technologies in achieving deep emissions reductions. How can governments incentivise and de-risk their applications in heavy industry to accelerate critical decarbonisation?
• How could international collaboration better facilitate sector-based emissions reduction or emissions-deterring regulations like carbon border adjustments?

Networking lunch

Session 7: Opportunities and risk: Mobility’s transition to net zero

A transition to net zero emissions is inclusive of greater demand for electric vehicles (EVs), creating opportunities and risks for businesses and governments around the world. Within the auto industry, a move toward net zero and the future of mobility is already underway as manufacturers accelerate the development of electric, connected and autonomous mobility. At the same time, governments and cities—including the European Commission—have introduced regulations and incentives to support the decarbonisation of transport. Decarbonising mobility would involve major changes including a shift in the mix of vehicles being manufactured and an increase in upfront capital costs for consumers and organisations in the move to EVs and other low emission transport options. 

• Several countries have also brought forward timelines for bans on the sales of new vehicles with internal combustion engines. How realistic are these timelines and how can consumers be expected to comply at a time of global economic crisis? 
• What is the anticipated balance between decarbonising vehicles, deploying extensive supportive infrastructure and delivering on net zero commitments that begin, in some cases, as early as 2023?? 

Session 8: The future of natural gas: The impact of Europe on global markets

Geopolitical and economic disruptions to global energy markets have emphasised the importance of a multifaceted energy mix, reinforcing the of role natural gas in delivering energy security. Talk of natural gas’ role as a bridging fuel has been replaced by questions around how supply can be secured—now and in the future—and at what price. In particular, reductions in Russian gas flow to Europe have resulted in supply-demand uncertainty and price volatility. In this context, Europe has reshaped global gas markets and sparked a significant increase in LNG regasification capacity as well as some long-term contracting activity. However, uncertainty remains as to how the European gas market will further develop and thus impact global markets. 

• For many gas importers, the energy crisis forced a pause in energy supply diversification and decarbonisation plans in favour of ensuring energy supply security. With decarbonisation targets of 2030 fast approaching, how will gas importers balance energy security priorities with now fast-tracked decarbonisation agendas? What does this mean for natural gas? 
• A more complex energy system, with electrification at its core, raises important questions about the opportunity around retrofitting natural gas infrastructure across the supply chain to accommodate new operating models and net zero ambitions. How might this play out? 

Networking drinks reception

Chair’s opening remarks

Ministerial address

Session 9: Digitalisation and transformative technology: Driving the energy transition

Digital technologies are a critical lever to energy transition progress and solutions. Policymakers and energy business leaders must simultaneously address rising energy demand that will continue on its trajectory along with the immediate priority of transitioning to the new, multifaceted energy system. Digital technologies have the potential advance agendas from the micro level to a global scale. To do so, however will require collaboration, innovation and tangible action across governments, across the energy value chain and among industries. The results have the potential to transform hard-to-abate industries, create energy efficiencies and enable the reduction and monitoring of GHG emissions.  

• When we consider both mature and emerging technologies—from renewables to carbon capture, from AI to data intelligence, from smart grids to EVs—which are the ones most likely to affect much-needed immediate change and which will deliver more progress in the longer-term? 
• How can policy incentivise an investment balance between start-up and ramp-up climate technology businesses, the decarbonisation of legacy businesses and hard-to-abate industries, and much-needed infrastructure? 

Networking coffee break

Session 10: Mobilising public and private capital to accelerate energy transition

Due to the immense scale of investment needed to drive the energy transition, governments and global financial institutions have placed capital allocation at the core of their energy and industrial policies. It is estimated that current agreed-on climate targets would require at least tripling global energy transition investment (including all decarbonisation) to more than $5 trillion each year between 2023 and 2050, well beyond what governments can handle alone. This places pressure on governments to incentivise investment through financial mechanisms aimed at de-risking investments and reducing decarbonisation costs in order to boost capital availability and allocations. 

• It is estimated that to reach decarbonisation goals laid out by the European Green Deal, approximately €260 billion in investments will be needed each year until 2030. How does this compare with the US Inflation Reduction Act? Is it a realistic ambition? 
• Are Emissions Trading Schemes (ETS) offsets making a tangible impact on emissions management? How might they be better employed for greater impact? 

Networking lunch break

Session 11: The opportunity of ESG in energy transition

Investors, regulators, customers and employees continue to focus on environmental, social and governance (ESG) goals and transparency in energy organisations as we progress toward a net zero future. Addressing key stakeholders’ priorities requires a well-articulated and measured strategy to provide competitive differentiation. While commitments and ambitions are often articulated, focus on the lack of reporting, accountability and governance is increasing. The development of consistent auditing practices and reporting metrics could be an advantage to the energy industry in creating transparency and accountability as we approach 2030 decarbonisation commitments.  

• What, if any, is the current impact ESG commitments to an organisation’s bottom line? How could industry-wide auditing and reporting standards impact that positively or negatively? 
• With increasingly strict EU frameworks on sustainability parameters for businesses, how can organisations tangibly demonstrate their commitments to all three elements of ESG in a way that resonates across stakeholder groups? 

Chair’s closing remarks