Energy transition and shipping skills development

As more investors and companies seek greater clarity and confidence in accounting for long-term climate risks and opportunities, businesses are adapting to the "energy transition" — a transformation of the global energy sector from fossil-based systems of energy production and consumption to renewable energy sources. Switching from nonrenewable energy sources like oil, natural gas, and coal to renewable energy is made possible by technological advancements and a societal push toward sustainability. As 2022 comes to a close, the energy transition seems more disorderly than ever. A world economy shaken by a global pandemic and the surging inflation that has accompanied the subsequent recovery has had to contend with a tragic conflict in Ukraine and its aftermath of human suffering, rising energy costs, and declining energy security. As we look forward to 2023 and COP28, the dual imperatives of ensuring energy resilience and affordability and of reducing emissions appear equally inescapable. Instead of delaying action, we believe these imperatives emphasize the importance of accelerating coordinated long-term action, at the same time as taking short-term measures.