Drivers for success in the energy sector
This article explores the factors fuelling demand and success for the world’s most ambitious energy, mining and renewables companies.
Credit: Moore Global
Responsible mining
ESG, or environmental, social and governance, issues have become powerful forces in the energy and mining industries.
Often criticised for its practices, leaders in these industries are committed to reducing the impact of their extraction activities on the environment.
They also recognise the need for a responsible approach to issues around mining on first nations’ land and the share of royalties they receive.
Back to the future
Ongoing disruptions to the global supply of some energy sources, most notably gas, have contributed to increasing use of non-renewable fossil fuels.
That means there is likely to be twin track development of traditional and renewable energy sources for some time.
Western mining companies are increasing investment in decarbonising their existing operations and creating new infrastructure to support renewable energy.
Green infrastructure
The amount of electricity generated from solar and wind power has risen exponentially. Research has also accelerated into hydrogen, hydro-electric and nuclear as clean alternatives to fossil fuels.
Meanwhile, the construction of a robust green infrastructure to facilitate the transition to a world of electrification powered by renewable energy is accelerating globally.
However, all these promising new sources of energy throw up challenges in production, energy storage and transportation, especially in the case of hydrogen.
Insight: Unearthing solutions
Author: David Tomasi, Global Leader, Energy, Mining & Renewables | david.tomasi@moore-australia.com.au
The shift towards renewables has been driven by a number of factors, including falling costs and advances in technology, as well as global treaties, government policies and incentives.
Investment in physical infrastructure to reduce carbon emissions is clear to see: however, what is happening behind the scenes may be of equal importance in the long run.
With the proliferation of sensors and internet-connected devices, it has become possible to gather and analyse huge amounts of real-time information about energy usage.
This vast bank of data can be mined to optimise the operation of energy systems, leading to more efficient and cost-effective energy production and consumption.
Contact us
If you would like to discuss potential drivers of success for your company, get in touch with our energy, mining and renewables team.