Ideas on Energy Transition: a New Life for Traditional Fuels? | Italy-China: Energy Transition - Towards a Sustainable Development
On April 16th, 2021, the China-Italy Chamber of Commerce organized, together with the Embassy of Italy in Beijing and ITA – Italian Trade Agency, the conference “Italy-China: Energy Transition – Towards a Sustainable Development”.
The event, organized in conjunction with the Fourth Edition of Day of Italian Research in the World and in the framework of the Italian co-presidency of COP26, was held both online and offline at the Rosewood Hotel Beijing.
The conference was structured in three thematic panels. This is the video of the first panel: “Ideas on Energy Transition: a New Life for Traditional Fuels?”.
As it is known, the theme of decarbonization is rather complex. Pathway towards decarbonization has to be paved with a multitude of perspectives, approaches, solutions, new economic and social models, all of them combined through holistic, systemic and comprehensive approaches taking into consideration mainly and firstly the major contributor to worldwide carbonization, including fossil fuels, with no ideological bias.
Decarbonizing will mean radically restructuring primary energy sources. In 2019 over 50% of world primary energy was represented by Oil & Gas while Coal share was more than 30%.
It is important to note that Oil & Gas as well as fossil fuels will continue to play a role in the energy transition which will result in a Europe with no climatic impact within 2050 and one “carbon neutral” China within 2060.
In this context, the participants discussed how to accelerate fossil fuels abandoning, while, reducing their emissions impact along the energy values chains with innovative technologies; how to replace fossil fuels with-non fossil fuels through focusing on biorefining; how to differentiate fossil fuel contribution to the decarbonization path; how to balance decarbonization and other priorities such as food security; as well as other related issues. In front of these and other questions, there were the Chairman of Eni China BV & Executive Vice President of Eni China Representative Office Gianni di Giovanni; the President of Baker Hughes China and Vice President of Baker Hughes, Cao Yang; the Project Manager of New Energy Research Center of CNOOC Research Institute, Cui Dechun; and professor of Shanghai JiaoTong University Yan Zheng. The debate was moderated by Guido D. Giacconi, Co-founder and Chairman of In3act Business Investment Consulting.
