A major focus of this year's COP26 event centred around the question,how can the energy transition be adequately financed? Classification society DNV recently released a report titled'Financing the Energy Transition' and report authors Jeremy Parkes-Global Business Lead,Electric Vehicles,Energy Systems,DNV-and Christian Parker-Content Manager,Energy Systems,DNV-told gasworld about rhe challenges ahead in an exclusive interview.To achieve goals set out by the Paris Agreement,such as a 50 reduction in harmful emissions by 2030,the report stated that a'massive redirection' of spending from carbon-heavy investment into clean energy is required.DNV forecasted that the current budget for a'1.5℃ future' will be exhausted in 2029 with an emission reduction of just 9.This implies that financial barriers are going to have to be faced and overcome.
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