Modern Energy supports new report setting out the path to electrify the global economy

The report Making Clean Electrification Possible: 30 years to electrify the global economy sets out why it is essential but also feasible and affordable to multiply the size of the global power system by 5x, while shifting to renewable-based electricity provision.

Modern Energy is a member of the Energy Transitions Commission (ETC), a coalition of more than 45 leaders from global energy producers, energy industries, financial institutions and environmental advocates – including ArcelorMittal, Bank of America, BP, Development Research Center of the State Council of China, EBRD, HSBC, Iberdrola, Ørsted, Shell, Longi Solar, Tata Group, Volvo Group and the World Resources Institute among others.

ETC’s first report dedicated specifically to decarbonizing the global power sector, “Making Clean Electrification Possible: 30 Years to Electrify the Global Economy,” lays out the feasibility of achieving a net-zero greenhouse gas emissions (GHG) economy by 2050 and the actions required in the next decade to put this target within reach.

Modern’s Mark Laabs, an ETC Commissioner, shared the following perspective on the report:

“Electrification is one of the cornerstones of our business strategy as we focus on developing the future landscape of sustainable transport and infrastructure solutions for the Net Zero economy. We see an increasing and urgent demand for sustainable solutions from our customers and we are convinced that the required technical and economic developments in this area are achievable.”

Mark Laabs, Managing Partner, Modern Energy
Commissioner, Energy Transitions Commission