The world must invest in both the existing fossil fuel-based energy system as well as in renewable energy sources to ensure an orderly transition, BP CEO Bernard Looney has said.
“We must make sure that the energy transition is both rapid and orderly,” he told the B20 summit. “It needs to be rapid because every year since Paris (climate agreement), the emissions have risen in the world with the exception of the pandemic,” Looney said, adding that if the transition is not orderly, it would “impact the pace of the transition”.
