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Balancing act
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How to tackle the energy trilemma
Balancing energy security, sustainability and affordability is the challenge of our time. Can energy and industrial companies solve this energy trilemma?
Energy markets changed dramatically in 2022 as new political and economic crises placed energy security front and center. As natural gas jumped to record prices, many gas-dependent companies and governments were forced to revisit their energy strategies.
What does that mean for net zero? We surveyed 555 senior executives in energy and industry across 21 countries to find out.
“What used to be a dual dilemma of affordability and sustainability has now become a trilemma of security, sustainability and affordability. We’re seeing a heightened need for more available energy sources, as well as clear mitigation of high energy prices as a result of inflation and supply-demand imbalance to ensure energy remains affordable in every region.”
LORENZO SIMONELLI, CHAIRMAN & CEO, BAKER HUGHES
Is the energy crisis
a threat to net zero?
a threat to net zero?
Executives’ top three
to balance energy
security and sustainability
to balance energy
security and sustainability
Which sources of energy
are at the top of the
investment wish list?
are at the top of the
investment wish list?
The availability of technology is
now crucial to the energy transition
now crucial to the energy transition
What are the greatest
barriers to investing in
energy transition technology?
barriers to investing in
energy transition technology?
If companies had more
budget, where would they invest?
budget, where would they invest?
39%
Transport and logistics and supply chain management
38%
Increased spending for technology R&D
35%