RIYADH — Last week, King Abdullah Petroleum Studies and Research Center (KAPSARC) and the International Energy Forum (IEF) co-hosted the 7th Thought Leaders’ Roundtable, to discuss how the world can foster investment in clean technology deployment, advancing innovation, and modernizing infrastructure to achieve energy security.
The collaboration between research, advisory, and think tank institutions and governments supports our role in informing policymakers to make the right decisions to shape the road towards sustainability, said the President of KAPSARC Fahad Alajlan. Alajlan stressed that if the final consumers don’t find the advantages of renewable energy in their bills, we need to find solutions through technologies and innovations to allow electricity prices to fall as renewables increase their shares in the power mix.
He also highlighted the new vision of the center to become an advisory think tank within global energy economics and sustainability providing advisory services to entities and authorities in the Saudi energy sector. “Besides all the research that the center produced we make sure to share KAPSARC tools and models with everyone to facilitate access to data to help in shaping the future of energy.”
“Focusing on innovation and technology can help in reaching energy security and facing climate change. The collaboration between research, advisory, and think tank institutions and governments supports our role in informing policymakers to make the right decisions.” Experts from Saudi Arabia and all over the world came together to discuss how we can overcome climate change, increase the momentum for investment in clean technologies and accelerate the energy innovation drive.
Speakers discussed which technologies hold promise in different market settings, as well as what market and government solutions will accelerate investment to scale clean technologies, in addition to how synergies between hydrogen, CCUS, small modular nuclear reactors and other clean technologies can reduce market hurdles and cost.
KAPSARC’s advisor to the board of trustees, Adam Sieminski, in his speech, highlighted the benefits of advancing technologies and creating carbon markets to reach net-zero carbon. “CCE is an alternate holistic approach that utilizes all available levers to address CO2 emissions while generating value. The Circular Carbon Economy framework implementation can work in many countries based on each nation’s unique circumstances.
The roundtable included three sessions that aimed to enable energy security and moving innovation and clean energy technologies forward, managing the energy transition and modernizing energy infrastructure, and how can find low carbon solutions. KAPSARC is an advisory think tank that seeks to advance Saudi Arabia’s energy sector and inform global policies through evidence-based advice and applied research.
The International Energy Forum (IEF) is the world’s largest international organization of energy ministers from 71 countries and includes both producing and consuming nations. It is truly the global home of energy dialogue. — SG