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Survey of over 500 international executives cites financial instability as biggest risk to investments in vitality transition applied sciences
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Majority of these surveyed (57%) investing or plan to put money into extra LNG
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Web-zero targets to be achieved by way of partnerships, expertise innovation, and new funding
HOUSTON, TX and LONDON, UK / ACCESSWIRE / January 25, 2023 / Baker Hughes (NASDAQ:BKR), an vitality expertise firm, on Wednesday launched its 2023 Vitality Transition Pulse report – a survey of 555 international senior executives to evaluate the economic sector’s potential to deal with advancing cleaner vitality amidst geopolitical and financial challenges.
The report, produced over a two-year interval by FT Longitude, the specialist analysis and content material advertising division of the Monetary Occasions Group, discovered that whereas 41% of respondents cited financial uncertainty and rising inflation as hurdles to vitality transition investments, confidence in net-zero emissions preparedness stays robust throughout a lot of the globe.
“Whereas we now face heightened want for extra vitality sources to handle the vitality trilemma of safety, sustainability and affordability, I’m happy this report exhibits that like Baker Hughes, the vast majority of our international friends stay targeted on attaining our particular person net-zero emissions targets by 2050,” stated Baker Hughes Chairman and CEO Lorenzo Simonelli. “With the demand for hydrocarbons persevering with for many years, it’s vital to use the expertise we now have right now to scale back emissions.”
Regardless of geopolitical challenges and the vitality safety disaster, the report discovered that in 2022, extra organizations say they’re ready to attain net-zero emissions by 2050 than they did in 2021.
“The massive studying from this disaster is that we actually must rethink the sort and the best way we use our vitality,” stated Ilham Kadri, CEO and president of the Government Committee of Solvay. “It is painful within the brief time period, nevertheless it does not change our local weather initiatives.”
In response to the vitality disaster largely caused in 2022, the vast majority of respondents (57%) are investing or planning to make new investments in fuel/liquefied pure fuel (LNG) to handle vitality safety. Assembly these provide calls for and progressing the vitality transition would require collaborations and partnerships between authorities, society, business and the broader enterprise group.
“Hydrocarbons are going to play a task for many years, and it is essential we apply the expertise that we now have right now and work collectively as companions to scale back these emissions,” Simonelli stated.
Baker Hughes and FT Longitude surveyed 555 executives in oil and fuel, renewable vitality and hard-to-abate industrial sectors – comparable to cement and mining – throughout 21 international locations within the third and fourth quarters of 2022. The previous survey was performed within the fourth quarter of 2021, polling 500 executives throughout 20 international locations.
The complete 2023 Baker Hughes Vitality Transition Pulse could also be discovered right here. Baker Hughes will share extra insights and learnings subsequent week at its Annual Assembly 2023 in Florence, Italy.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an vitality expertise firm that gives options to vitality and industrial clients worldwide. Constructed on a century of expertise and conducting enterprise in over 120 international locations, our modern applied sciences and providers are taking vitality ahead – making it safer, cleaner and extra environment friendly for folks and the planet. Go to us at bakerhughes.com.
About FT Longitude:
FT Longitude is a specialist thought management company that’s owned by the Monetary Occasions. We mix technique, analysis, content material and activation providers to provide actual thought management that allows our purchasers to genuinely affect and encourage their viewers. We work with a variety of the world’s most prestigious B2B manufacturers throughout Europe, the US and Asia Pacific. Our 80+ purchasers are concentrated within the skilled providers, monetary providers and expertise sectors, but additionally stretch into vitality, infrastructure, manufacturing and different sectors. Headquartered in London, the corporate was based in 2011 and was chosen as considered one of Chief Marketer 200, Prime Advertising and marketing Companies of 2020, an Inc. 5000 Europe in 2018, an FT 1000 firm in 2017, and a 2016 Leap 100 excessive progress UK firm by Metropolis A.M. and Mishcon de Reya. It’s led by founders Rob Mitchell (CEO), James Watson (COO) and Gareth Lofthouse (Chief Income Officer).
Go to longitude.ft.com, comply with @FTLongitude on Twitter, or join on LinkedIn.
For extra data, please contact:
Media Relations
Adrienne M. Lynch
+1 713-906-8407
adrienne.lynch@bakerhughes.com
View extra multimedia and extra ESG storytelling from Baker Hughes on 3blmedia.com.
Contact Data:
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SOURCE: Baker Hughes
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https://www.accesswire.com/736681/Baker-Hughes-2023-Vitality-Transition-Pulse-Confidence-To-Hit-Web-Zero-Emissions-Targets-Secure-Regardless of-Vitality-Trilemma
