The current geopolitical crisis is marking a significant turning point in the transition to net zero. A number of countries and businesses have reacted to soaring energy prices by reconsidering their fuel mix and racing to secure new supplies of legacy fossil fuels. Experts view these actions largely as temporary measures, rather than a new trend. Nonetheless, governments, regulators, industry and capital markets have to act urgently and collaboratively to respond to current events and maintain the vital long-term focus on the transition to net-zero. 

This is a vital moment. The way governments, industry and financiers collectively respond to emerging crises, and build the necessary resilience to address future crises, will define the success of this next crucial stage of the net zero journey and whether climate goals are met. The challenges ahead are significant. They include bridging the critical financing gaps and accelerating the at-scale commercialisation of the advanced technologies that will be needed to decarbonise the hard-to abate sectors where the majority of emissions reside. The level of inter-dependencies and the magnitude of the task ahead will also require the breakdown of existing silos across industries and supply chains. The collaborations, convergence and new ecosystems forged will provide new opportunities for value creation, while fundamentally transforming the energy and industrial systems on which the global economy depends. 

This Financial Times webinar, in collaboration with PwC, traced the contours of the energy transition and the emerging risks and opportunities as the world continues on its post-COP27 path to net zero. We heard from leading voices from across government, business and finance on how companies are building reliance while accelerating their race to net zero. 

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