Theme : THE NEXT SOCIETY #NOWANDLIVE on Energy Resources Transition in the South Med: From Conventional to Renewable
Place : ONLINE REPLAY,
Date : On 20 july 2022
THE NEXT SOCIETY #NOWANDLIVE
Energy Resources Transition in the South Med: From Conventional to Renewable
If you had missed our fourth event, you can watch this 5 minutes key message video (subtitle in french available).
If you would like to watch the whole #NOWANDLIVE event, you can watch the replay translated in French and English on Youtube. (1h 30 mins)- English version
As the driving force of economic and industrial growth, the energy sector plays a key role to foster prosperity and social development. However, the increased reliance on carbon-spilling energy sources such as fossil fuels, which still constitute the principal source of energy production in most regions of the world, including the MENA region, strongly contributes to global warming and pollution. According to BP Statistical Review of World Energy, an estimated 84% of the world’s energy consumption needs derive from fossil fuels. The persistent increase in energy demand due to economic progress, urbanization and population growth in the South med region will meaningfully impact the primary energy consumption, which is already suffering from shortage. As stated by the World Bank, approximately 28 million people in the MENA region still lack access to electricity, mainly in rural areas. Furthermore, it is likely to experience a doubling of their energy needs by 2040.
There is no doubt that the South med region was no exception to the negative repercussions of the Covid-19 pandemic on the conventional energy market such as the reduction in investments in this sector, the decline in fuel prices fossils and transformations in geopolitical dynamics. This implies that the existing energy infrastructures are no longer suitable and that a transition towards more renewable energy resources will need to take place sooner rather than later. As a response, a number of national initiatives and new investments have been taking place across the region to meet this increasing demand for energy while mitigating the impact on climate. At the same time, this has created a window of opportunity for young entrepreneurs to enter the energy market with innovative solutions for their start-ups.
This session addressed the situation of this sector in the region and the conditions for a successful transition towards more renewable energy resources.
This live stream gathered around the table:
- Policy makers and national authorities launching specific provisions for Energy players
- Tech hubs launching dedicated acceleration programs for entrepreneurs and who catalyze a pool of opportunities for investors
- Startups from THE NEXT SOCIETY community renewing the Energy sector and bringing new solutions
- Clusters, first witnesses of the sector’s value chain transformation and voice for the sector’s needs
For more details about this series of THE NEXT SOCIETY #NOWANDLIVE click here
This online event will be available in French and English.