Are we continuing the path towards stranded assets?

“What will it take to solve the energy transition without us just creating more havoc? Primarily a science-based orientation, and thereafter radical innovation and system-based solutions – and at a much higher pace than today” – according to Brita Staal.

Norway is, on one hand, heavily vested in oil and gas both technically and economically. On the other hand, we are one of the most electrified countries in the world, with the highest share of renewable energy and with a huge economic power to transition.

Continued and full support to sunset industries while sincerely trying to take part in the world's largest restructuring process can quickly become an exercise in riding two horses.

Brita Staal, Climate Lead at Smart Innovation Norway, believes it is difficult build on existing advantages, without automatically encountering mechanisms that lock us into the past and work against innovation and rapid change.

In a world where climate risks are increasing by the day, and emissions must be reduced incredibly fast to meet the global climate targets, she advocates for better transitioning tools, and more funding for renewable and system-based solutions.

Norway is facing a monumental task in transitioning away from fossil fuels, and you are invited to discuss the challenges and opportunities arising at Ocean Connect 26 October in Bergen.

A need for radical innovation

Brita has many years of experience as a sustainability leader and founder of a European climate organisation, a technology company in climate risk analysis, and leader of a climate fund.

To succeed with the energy transition, Brita believes there is a need for radical innovation and solutions that tackle several problems at the same time – concepts that can be tested quickly and that can work through distributed ownership.

Brita is a regular columnist in Teknisk Ukeblad, where she writes about the circular economy, sustainable business models, planetary boundaries and climate change.

A missed golden opportunity

A key challenge lies in the capital and competence that is tied up in the petroleum sector, which we need to move away from.

Brita believes that the continuation of the petroleum tax package established during Covid was a big mistake. This move keeps extending the oil era, preventing us from seizing the golden opportunity to transition to new and green industries.

We look forward to hearing Brita Staal share her perspectives and insights about what she believes companies, researchers and the Norwegian government need to do to succeed with the energy transition at Ocean Connect 26 October in Bergen.