Global energy policies must be stable to contribute to sustainability as demand for energy rises, the World Energy Council said.
The group interviewed 40 executives from the energy industry for its World Energy Trilemma report about what they would like from policy makers. The group defines sustainable energy systems as those that have security of supply, social equity and can mitigate the impact on the environment. The executives said they wanted predictable policies, incentives for long-term investments and a greater encouragement of research and development.
“We’re taking too long to create the environment needed to develop sustainable energy systems,” said Mark Robson, a partner of Oliver Wyman and an author of the report. “Businesses must be assured that the economics of their investments won’t be destroyed by changes in energy policy. This policy risk is a key factor holding back energy investments.”
The World Energy Council also ranked countries according to how sustainable their energy systems are. While Sweden, Switzerland and Canada topped the list, no country was deemed to have achieved sustainability.
Next year, the group plans to interview policy makers and write a report about what they would like from industry executives.