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NEWS & INSIGHTS | article

Targeting sustainable profits

21 October 2021 2 minute read

Targeting sustainable profits, Colette Cohen, The Scotsman, 21 Oct 2021

In Scotland and the UK, we have many of the technologies needed to deliver a green transition, but there is the underlying challenge of making them affordable and scalable. If the solutions and the technology weren’t so expensive, and if it was easier to scale, such things as workable carbon sequestration and hydrogen generation would already be in place.

As a result, there is a huge role for organisations like ours to challenge the approach, to disrupt the status quo and find new solutions that are scalable, economic and flexible. It’s super-important that Scotland, including the north east, start investing in this direction at pace. There is a lot of conversation about the energy transition, but we now have to stop talking and start doing.

We need a clear roadmap to 2045 and 2050. We need to realise that setting targets is great, but for industry to invest, for the supply chain to diversify and for schools and universities to start educating the workforce of the future, we need new wind, hydrogen and carbon sequestration projects approved now. We need to create a conveyor belt of activity within the UK to support the investment required. We need to decide where we will use hydrogen (industry vs transport etc), how we will transport and store CO2 and H2, and we need to accelerate the installation of new offshore wind energy generation.

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