From Ambition to Reality 3
Steps to accelerate net zero delivery
In collaboration with Princeton University's Andlinger Center for Energy and the Environment, Worley presents the third instalment of the groundbreaking series, focusing on the acceleration of net zero delivery. This paper builds on the insights from Papers 1 and 2 and provides pragmatic steps for infrastructure participants navigating the net zero challenge.
What's new in paper 3:
- A spotlight on hydrogen in the EU: An examination of the EU's 2030 ambition for renewable hydrogen as a case study for clean energy supply chains, which we unpack in infrastructure and delivery terms. We conclude this ambition is unlikely to be achieved due to speed-limiting barriers to the capital discipline process, which is crucial to ensure investment and asset success.
- Accelerating the flow of capital: The 5 From Ambition to Reality (FATR) shifts are used to overcome these barriers in an EU Renewable H2 Plan, which when implemented could compress the delivery timeline of a model renewable hydrogen mega-project by around 40%, accelerating delivery while maintaining capital discipline.
- Preliminary findings of the 2023 Princeton Net Zero Stakeholder Survey: Insights from the first Survey examining infrastructure delivery practices, completed by around 500 senior industry leaders
- The 2024 FATR Plan: A global, pragmatic plan for all clean energy value chains including five specific initiative steps for 2024 to drive momentum towards implementation of the shifts by 2030. We identify just who should be taking these steps, those we are willing to take ourselves, and issue a challenge for others to drive new best practices.
The urgent call to action:
Traditional infrastructure delivery methods are not sufficient to meet the scale and pace of the net zero challenge. Achieving net zero by mid-century requires collective efforts, radical change, and urgent action from all infrastructure participants.