Pattabi Seshadri, Senior Partner and Managing Director of Boston Consulting Group stressed the importance of integrating and scaling up green technologies at the ADIPEC 2023 conference in Abu Dhabi.
Seshadri said that current solutions can only reduce 45 percent of the world’s annual 51 gigatons of carbon dioxide and greenhouse gas emissions. He highlighted the need to accelerate innovation and encourage investment in the energy sector to reach current climate goals. Despite the significant US$2 trillion in current investments in clean and sustainable energy, Seshadri said that reaching current climate goals will require double that amount, or US$4 trillion annually, starting in 2030.
However, Seshadri expressed optimism about the capacities and efforts that can help achieve the climate goals, particularly when current capacities are used optimally and future technologies are developed.He also emphasized that the path to sustainability in the energy sector is not just about facing challenges, but also about exploring the vast opportunities that will come with the transformation. Seshadri affirmed that these opportunities could create up to US$25 trillion in business value by 2040.
Boston Consulting Group (BCG) is a global management consulting firm that partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. Founded in 1963, BCG has grown to become one of the world’s leading consulting firms, with offices in over 50 countries.BCG’s clients are some of the most well-known and successful companies in the world, including Fortune 500 companies, government agencies, and non-profit organizations.