LONDON, Oct 3 (Reuters) – Adopting decentralized energy grids could be the way forward in building renewable energy to meet global climate goals, the CEO of investment firm Sustainable Development Capital said on Monday.
Speaking on a panel at the Reuters IMPACT sustainability conference in central London, Jonathan Maxwell said the US’s energy challenges highlighted the need to “focus on governance”.
“Let’s generate (electricity) in a place or a site so that we don’t waste energy somewhere between conversion and distribution, distribution and end use,” said Maxwell, answering a question from Arctic Basecamp founder Gail Whiteman about the lessons learned in the green transition.
Responding to an earlier call by London Mayor Sadiq Khan for 75 billion pounds ($84 billion) in investment to meet the city’s targets, Maxwell said improvements in energy efficiency could achieve this at a much lower cost.
With Europe facing an energy crisis this year, some speaking at a panel titled “Moving Beyond Net Zero” said the recent increase in coal production should not encourage a revival of fossil fuels.
“We are very much prepared (for next winter) if there is an unpleasant increase, but there should be no investment in more fossil fuels,” said Jill Duggan, executive director of the European Environmental Defense Fund, an environmental advocacy group.
“We need to focus on keeping people warm this winter, not getting more coal in the ground.”
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Reporting by Gloria Dickie in London Editing by Mark Potter
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