Energy Leaders Discuss Clean Transition at TIME100 Forum

At the TIME100 Climate Leadership Forum in New York City, U.S. Secretary of Energy Jennifer M. Granholm highlighted the significant progress in the clean energy transition, attributing it to the Bipartisan Infrastructure Law and the Inflation Reduction Act. These legislative measures have spurred substantial investments in the clean energy sector, resulting in hundreds of thousands of new jobs, as noted in the latest U.S. Energy & Employment Jobs Report. Granholm expressed optimism about the ongoing transformation in the energy landscape. Fatih Birol, executive director of the International Energy Agency, echoed Granholm's sentiments, emphasizing that the global energy transition is also thriving. He pointed out that global spending on clean energy technologies is projected to reach $2 trillion by 2024, with a notable increase in renewable energy power plants, particularly in 2023. Birol praised the Inflation Reduction Act for its dual role in combating climate change and fostering job creation. Ignacio Galán, executive chairman of Iberdrola, shared insights on the company's substantial investments in clean energy, amounting to nearly $200 billion over the past two decades. He underscored the importance of stable regulations to facilitate further advancements in the energy sector. The panelists collectively agreed on the necessity of continued investment and support for clean energy technologies. Looking ahead, Birol asserted that the energy transition is irreversible, driven by economic factors rather than political influences. Granholm warned against any attempts to reverse the progress made in clean energy, while Galán reiterated the readiness of the energy industry to invest in existing clean technologies, emphasizing the need for a conducive regulatory environment.