Tackling the energy trilemma: A call for clarity, urgency and collaboration

With the impacts of climate change being felt globally, the need to reach net zero has never been more urgent. SHOCKED, a recent research report conducted by GHD, revealed that 76% of energy leaders say the current energy crisis is reducing the standard of living. In a panel discussion led by Dr Tej Gidda, GHD’s Global Leader – Future Energy, leaders from the energy, finance and infrastructure sectors came together to discuss how we move towards a net zero future while navigating the most severe crisis the energy market has ever experienced.

Three key themes emerged from the discussion: the need for greater clarity around regulation and policy to enable investment, a stronger shared sense of urgency from the public, and better collaboration to ensure diverse voices are heard and understood.

Tackling the energy crisis requires significant investment in new technologies, renewable energy systems and sustainable infrastructure. However, regulatory and policy uncertainty continues to be cited as a major barrier to progress. The panel agreed that approvals and permitting is an enormous challenge, existing planning regimes are not fit for purpose, and Australia’s electricity grid is out-dated and insufficient to support the transition. 

AustralianSuper’s Chief Executive Paul Schroder said, “To attract the necessary investments that will help transition the economy at the pace that we need, governments at all levels need to establish clear, long-term and reliable policy settings. Investors need certainty on the direction that governments and industries are taking to enable the transition. Clarity is the central factor that will inspire confidence and unlock capital for large-scale sustainability projects.”

The challenge of creating a stronger shared sense of urgency among the general public was another key theme in the discussion. “Some people fail to perceive the immediate impact of climate change until it directly affects them, whether it be extreme weather events or rising costs,” said Rachele Williams, Director – Plenary.

“Engaging and educating the public about the urgency to take action is critical to garnering widespread support for the energy transition. The sooner people realise we’re in the thick of an energy crisis, the quicker we can progress forward. Getting communities to recognise the urgency of the situation and empowering them to be part of the solution is essential.”

One of the strongest themes to emerge from the panel discussion was the importance of facilitating open dialogue and active listening between engineers, scientists, investors, policy makers, and communities. “Only then can we gain a stronger understanding of each other’s needs and priorities. Listening to all sides is vital for meaningful collaboration,” said Clean Energy Council Chief Executive Kane Thornton.

“The energy crisis offers us an enormous opportunity to start building deeper relationships with communities. We need to have honest and courageous conversations about the impacts of the energy transition. Through genuine partnerships with communities, we can co-design solutions that consider their values and needs, ensuring a just and equitable transition.”

The discussion was a timely reminder that we’re at a critical juncture in our journey. It’s clear that the path to net zero won’t be linear. Tackling the energy trilemma requires changing a fundamental component of how we live and how we behave, not just to each other, but to the environment.

To pave the way for a sustainable, prosperous and resilient future, we must:

• Unlock money and markets by fostering investments and shaping conducive policy and regulation.
• Supercharge engineered solutions like next-generation renewable technologies, large-scale energy storage, hydrogen and smart grids.
• Carefully balance supply chains and resources by building resilience and nurturing talent.
• Secure social acceptance to succeed by engaging communities in decision-making processes.
• Ensure a just transition by integrating social equity into energy policy and planning.