The Big Question in Power Systems Is How to Balance Supply and Demand

A focussed, and spirited, discussion with Lord Adair Turner on the work of the Energy Transitions Commission and the recent Energy Transitions Commission’s report on the role of Carbon Dioxide Removals (CDR) in meeting global climate objectives… a report which argues that CDR, alongside rapid and deep global decarbonisation, can give the world a 50% chance of limiting global warming to 1.5°C. This is a fascinating broad ranging discussion exploring different approaches to CDR, the role and varying structure of carbon offsets, validation mechanisms the role of carbon markets, the article 6 rulebook, and related questions. The discussion also touches on the ongoing role that financial institutions are playing supporting the fossil fuel industry.

Lord Adair Turner chairs the Energy Transitions Commission, a global coalition of major power and industrial companies, investors, environmental NGOs and experts working out achievable pathways to limit global warming to well below 2˚C by 2040 while stimulating economic development and social progress. He was chairman of the Institute for New Economic Thinking until January 2019, where he remains a Senior Fellow. He is Chairman of Chubb Europe and on the Advisory Board of Envision Energy, a Shanghai-based group focussed on renewable energy, batteries and digital systems. Amongst many other roles he has played, Adair was the first chairman of the Climate Change Committee (2008-2012) an independent body to advise the UK Government on tackling climate change.