There simply is no silver bullet, no Goldilocks 'just right' solution. So how to move forward in this landscape? Typically, breaks in the chain come down to cost, regulation and demand readiness building new infrastructure is expensive and there is not always enough demand to justify the investment. Unlocking stalled projects in such an environment can be difficult for even the most progressive company. If one link is not in place it can hold everything back. Building new energy value chains is complex because they are just that – chains. It came as no surprise to me that a central concern for recipients is the complexity associated with the establishment of combined and/or integrated value chains. Of those behind schedule to meet net zero targets, the biggest concern was the complexity around building combined and/or integrated value chains, followed by high costs and having to compete with lower cost providers from rival markets. This was followed by legislative uncertainty and knowing which technologies to invest in. Of those identifying roadblocks to progress, the largest number pointed to complex regulatory frameworks as the biggest challenge. The remainder were behind the pace required to meet net zero ambitions, some by more than two years. However, nearly 20% said they did not know their company targets or were unaware of the status with regards to progress. Nearly half of those asked said they were on target to meet internal targets, with around one fifth claiming they were ahead of those targets. While at a recent conference, we conducted a poll among attendees to gauge where industry is on its decarbonisation journey and what the main challenges are.
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