Article

The 2030 decarbonization challenge

The path to the future of energy

E&R industry can accelerate decarbonization over the next decade and achieve meaningful interim targets by 2030.

The path to the future of energy

The global energy mix is shifting from fossil fuels to renewables. There are abundant examples of both public and private organizations working hard to decarbonize the economy. As this energy transformation or “Green Deal” gains momentum, new ecosystems are forming, and new technologies are emerging. These developments are helping to grow renewables, develop new energy carriers, improve energy efficiency, reduce emissions, and create new markets for carbon and other byproducts as part of an increasingly circular economy. At the same time, many of these commonly pursued steps to decarbonization, such as increased electrification, wide-scale use of renewable energy, and intensifying energy efficiency measures, pose unique challenges.

Many participants in the energy and resources (E&R) industry have publicly declared their intention to become carbon-neutral by 2050. While their long-term vision is clear, the more perplexing challenge for E&R companies lies in the immediate future. Many companies are struggling to understand the material impacts that their stated goals are going to have on their valuations, operations, employees, and markets over the next few years.

This report explores how companies in certain sectors of the E&R industry—chemicals; oil and gas; mining and metals; and power, utilities, and renewables—can accelerate decarbonization over the next decade and achieve meaningful interim targets by 2030.

Sector overview

Each sector analysis examines the current state of decarbonization in the sector; distinct or outsized macro drivers; which emissions are within a company’s control; and potential decarbonization pathways and practical considerations that may influence a company’s decarbonization strategies and tactics.

Energy scenarios in focus

Planning amidst an uncertain future for the energy industry

The future is coming fast. By 2035, organizations in every industry will be dealing with a vastly different energy landscape. What will that future of energy look like? Plenty of uncertainties are in play, but four clear scenarios emerge based on Deloitte’s research.

Explore the four scenarios

Key contacts

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Rajeev Chopra
Global industry leader—Energy, Resources & Industrials 
Global leader, Oil, Gas & Chemicals
rchopra@deloitte.co.uk

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Stanley Porter
Global sector leader—Power, Utilities & Renewables
Deloitte Touche Tohmatsu Limited
sporter@deloitte.com

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Andrew Swart
Global sector leader—Mining & Metals
aswart@deloitte.ca

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