Abstract:

Energy is the fuel of the global economy. Without sufficient energy to heat and light our houses, run our businesses, power our manufacturing plants, and stoke our cars and planes, our world would come to a standstill. Energy is provided via an Energy Harnessing Network – a complex system that starts with extraction from a variety of sources and then moves to transformation, storage, distribution and finally utilization. Global megatrends such as climate change and resource scarcity force a rethinking of this crucial network, especially in the light of a reshuffling of global economic activity and significant demand growth in the developing world. Innovative solutions are required to ensure that the world’s economy is fuelled in a socially and environmentally responsible way that is also economic.A global restructuring with so many constraints is highly complex, and demands innovative solutions from businesses and governments. A select group of specialists from industry, civil society, government and academia have therefore analysed this global challenge from different viewpoints and determined critically important requirements for a successful rearrangement of the Energy Harnessing Network. The findings of this holistic analysis are described in detail in this report.