An article by Daniel Yergin (Vice Chairman of S&P Global) where he discussed the four key challenges of energy transition. Firstly, the need to balance the pace of transition with energy security in mind, especially following the Russian-Ukraine War. Secondly, the scale of energy transition and the seemingly ardent task to do so. Third challenge is to ensure a "just" transition, where transition is done without stifling competing economic priorities of the Global South. Lastly, the concern regarding the material-hungry transition, the shift from "Big Oil" to "Big Shovels" (i.e. the drilling for oil and gas to mining the minerals necessary for electrifying the global grid).

Energy transition is a complex and challenging process that requires a deep understanding of the issues at stake. Stakeholders must be aware of the potential trade-offs, uncertainties and unintended consequences of the transition to ensure a socially just and equitable transition towards a low-carbon economy.

(Click here to read the article)