Page 35 - Impiantistica industriale

unprecedented opportunity to accelerate the de- lar farms. In parallel, this could mean tighten-
ployment of net-zero technology. Governments ing the permit and approval processes for the
could consider three sets of actions in particular: development of emissive assets that would be
• Develop an integrated economic and na- “stranded on arrival.”
tional resource strategy. This could include
working closely across departments and with Finally, the role of finance will continue to be critical.
industries to develop a roadmap identifying Financial institutions would benefit from three sets
and coordinating the policy, innovation, infra- of actions:
structure, and financial inputs necessary to • Develop a more robust approach to re-
achieve decarbonization and energy security ducing financed emissions. In a world
commitments. This would also include devel- where emissions could well increase in the
oping plans for facilitating the retirement, and short term, strategies that were designed to
minimizing the impact, of stranded assets see a linear and constant decrease in financed
(and very carefully optimizing and guiding the emissions are likely to be untenable. Financial
deployment of the new high-emissions as- institutions need to think through—at least in-
sets that may be required in the short term in itially—more complex decarbonization paths
certain geographies). Finally, this would mean for companies and provide the right sup-
accelerating efforts to project future mineral port and incentives to companies on these
resource requirements under various scenar- paths. They also should continue to refine their
ios and defining as resilient and diversified an ability to understand their financed emissions
approach as possible to securing those re- and work closely with clients on an orderly and
sources. gradual path of decarbonization.
• Establish clear demand signals. This could • Build capability to identify and capitalize
entail putting in place or enhancing a range of on new decarbonization opportunities. As
incentives and requirements for the deploy- fossil-fuel prices rise and renewable prices
ment of key net-zero transition technologies, continue to fall, new decarbonization solutions
accelerating emissions-reduction (and there- along the marginal-abatement cost curve be-
fore energy security) commitment timelines, come economical. Financial institutions could
and deploying regulation to price or phase out build at greater scale the capability to identify
emissive assets over time. However, it is crit- and capitalize on the opportunity to finance
ical that demand signals be coordinated with these emerging opportunities.
a supply strategy in the spirit of the previous • Develop and scale new financial prod-
two points. And all of this is of course in the ucts and structures to help companies
context of managing the short-term risks that wind down legacy assets. Solutions could
energy systems face. include special-purpose vehicles that would
• Deploy (further) financial incentives/ enable companies to ring-fence legacy-emit-
guarantees and enhance guardrails. This ting assets and retire them in line with a sci-
could mean deploying public funds and cre- ence-based, net-zero pathway; financing
ating financial incentives to accelerate deploy- structures such as long-term purchase agree-
ment of proven net-zero technology, particu- ments from renewables plants (with lower total
larly across energy efficiency and renewable life-cycle costs) to replace coal-generation as-
generation. This would also mean reforming sets; and new financial instruments (for exam-
permit and approval processes to deploy ple, for negative emissions or for nature-based
net-zero technologies and infrastructure fast- solutions).
er, for example the installation of wind and so-

La transizione “net zero” nella scia
della guerra in Ucraina: una deviazione, un

deragliamento o un percorso diverso?

La guerra in Ucraina non solo ha scatenato una tragedia umanitaria, ma ha anche affrontato lo
sforzo per ottenere l’azzeramento delle emissioni nette di gas serra, un potente shock dal lato
dell’offerta. Tuttavia, per i leader del settore pubblico e privato disposti a compiere i passi coraggiosi
necessari, la nuova logica della sicurezza energetica e dell’economia promette di fare di questo un
punto di svolta nel cogliere l’opportunità di affrontare la crisi climatica mondiale in corso.

Impiantistica Italiana - Luglio-Agosto 2022 31 31