McKinsey Global Institute reposted this
I recently went on Nasdaq TradeTalks alongside Anthony (Tony) Perrotta, Todd R. Zabelle, Tyler S. Rosenlicht, and Jill Malandrino to discuss our new McKinsey Global Institute report (available here 👉 mck.co/physicaltransition) and the energy transition. Some of the takeaways from our wide ranging discussion that really stood out to me: 1. The world will need more energy in the coming years – as populations grow, new forms of demand emerge, and to bridge energy access gaps in the developing world. 2. The transition to reduce emissions is making progress but is still in its early stages. As we look across the power sector, the mobility sector, the industry sector, we've only deployed about 10% of the technologies that we would need by 2050 to meet global commitments. Initial deployments have often tackled simpler applications, like short-range EVs 3. The energy transition involves overcoming numerous physical challenges. We identified 25 physical challenges or "puzzle pieces," from the performance of low-emission technologies to building essential supply chains and infrastructure (like transmission and distribution infrastructure or EV charging stations) 4. The transformation to clean energy is a massive scale-up operation, requiring both innovation and execution. And executing well will require addressing a range of constraints, for example related to permitting, labor and skills, and building the supply chains for low-emissions technologies. 5. Despite the challenges, there are areas of meaningful momentum which can contribute to emissions reduction today. Thank you to the TradeTalks team and all my fellow panelists for a stimulating discussion. Watch the full segment here: https://lnkd.in/eztyHA37