A Tale of Two Cities The roadmap to reducing fossil fuel dependence October 2021 - Deloitte
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A Tale of Two Cities The roadmap to reducing fossil fuel dependence October 2021
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01
Why now?
02
The IEA’s net zero report: time to fast-track the
03
What the energy transition means for Dubai
phase-out of fossil fuels and Manchester
04
Decarbonisation considerations for cities
05 06
Conclusion: pathways Contact us
A Tale of Two Cities | The roadmap to reducing fossil fuel dependence
01 Why now?
Why now?
The IEA’s net zero report: time to
02 fast-track the phase-out of fossil fuels
What the energy transition means for
03 Dubai and Manchester
04 Decarbonisation considerations for cities
05 Conclusion: pathways
06 Contact us
A Tale of Two Cities | The roadmap to reducing fossil fuel dependence
The recent Net Zero report of the International Energy Agency (IEA), published in May, garnered headlines
01 Why now? with its surprising conclusions. It called for a cessation of new fossil fuel exploration, and a concerted effort
to curtail production and use in generation. While many applauded the new view given the IEA’s close
connection to oil-producing countries, the report sparked a predictable backlash.
The IEA’s net zero report: time to The report laid out a detailed roadmap for decarbonising the energy sector. By In other ways they are quite dissimilar: they have a different focus on sectors to
02 fast-track the phase-out of fossil fuels providing over 400 milestones across all sectors and technologies, it identified a decarbonise; different political, policy, institutional and legal systems; and different
variety of paths that market players could take to get to a broadly similar end state: infrastructure legacies that will require adaptation. If Dubai is about invention,
a radical reduction in energy-related emissions by 2050. Manchester is about reinvention.
Deloitte wanted to explore what were some of the different paths suggested by the The choice of such apparent extremes is deliberate, in order to highlight the various
What the energy transition means for
03 Dubai and Manchester IEA, and what would need to change if specific locales were to adopt them. options, opportunities and obstacles that will dictate the path forward.
While much of the impetus for energy transition will be at a national level, our focus
is on cities. Deloitte has developed an Energy Transition Index1 that assesses the
readiness of major cities in selected countries to move towards a low-emissions future.
“If Dubai is about invention,
04 Decarbonisation considerations for cities
We compare and contrast two cities in two countries that could not be more different:
Manchester is about reinvention.”
Dubai in the UAE and (Greater) Manchester in the UK. At first glance, they share some
interesting similarities: They have roughly the same population, around three million
people, and similar national wealth levels (measured as GDP per capita), around
US$41,000. Neither city is the country’s capital, meaning they must set their own
05 Conclusion: pathways
course within a broader national economic and regulatory context.
06 Contact us
1
e analysed 22 cities in 17 countries: Australia (Melbourne and Sydney), Brazil (Sao Paulo), Canada (Toronto and Vancouver), China (Shanghai), Indonesia (Jakarta), Ireland (Dublin), Italy (Rome),
W
Japan (Tokyo), Portugal (Lisbon), The Netherlands (Amsterdam), New Zealand (Auckland), Saudi Arabia (Riyadh), Singapore, Spain (Barcelona), Sweden (Stockholm), United Arab Emirates (Dubai),
the United Kingdom (London and Manchester), and the United States (Los Angeles and Washington DC).
A Tale of Two Cities | The roadmap to reducing fossil fuel dependence
01 Why now?
The IEA’s net zero report:
02 The IEA’s net zero report: time to
fast-track the phase-out of fossil fuels
time to fast-track the
What the energy transition means for
phase-out of fossil fuels
03 Dubai and Manchester
04 Decarbonisation considerations for cities
05 Conclusion: pathways
06 Contact us
A Tale of Two Cities | The roadmap to reducing fossil fuel dependence
In the desired outcome scenario in the IEA report, the consumption of fossil fuel— Although there is a range of views about when demand for each of these fossil fuels
coal, oil and natural gas—falls from almost 80 per cent of total energy supply in 2020 will peak, to be followed by their decline, we compared the UN’s Inevitable Policy
01 Why now? to slightly over 20 per cent by 2050, when fossil fuel use is confined to sectors where Response (IPR) baseline scenarios to the IEA’s net zero numbers to highlight how much
clean tech options are not readily available, at facilities where abatement is installed, faster the transition would have to happen under the IEA’s projections. See Figure 1.
and to goods where they are a key ingredient, such as plastics.
Figure 1. World fuel demand, UN IPR and IEA net zero projections to 2050
• Coal: The first to be phased out, having peaked in 2014. Unabated coal demand
The IEA’s net zero report: time to drops by 90 per cent to just one per cent of total energy use in 2050.
02 fast-track the phase-out of fossil fuels
120
Energy demand in EJ (2020 = 100)
• Oil: Demand declines by 75 per cent, from 90 mb/d in 2020 to 24 mb/d in 2050. 100
• Natural gas: The last fossil fuel to see use significantly curtailed. Demand falls 80
by 55 per cent, to 1,750bn cubic metres.
What the energy transition means for
03 Dubai and Manchester
60
40
20
04 Decarbonisation considerations for cities 0
2020 2030 2040 2050
Coal (UNPRI) Coal (IEA) Oil (UNPRI) Oil (IEA) Gas (UNPRI) Gas (IEA)
Source: IEA, UN, Deloitte analysis
05 Conclusion: pathways
06 Contact us
A Tale of Two Cities | The roadmap to reducing fossil fuel dependence
To achieve the rapid curtailment of fossil fuel use, the IEA suggests a timeline for fundamental and far-reaching changes that should happen in the four main sectors where
fossil fuels are used: electricity generation (and heat); industrial; buildings; and transport. See Figure 2.
01 Why now?
Figure 2: Key milestones on the IEA’s pathway to net zero
2025 2030 2035 2040 2050
No new sales of fossil fuel boilers Universal energy access Most appliances and cooling 50% of existing buildings More than 85% of buildings
The IEA’s net zero report: time to
02
systems sold are best in class retrofitted to zero‐carbon‐ready are zero‐carbon‐ready
2021 All new buildings are
fast-track the phase-out of fossil fuels zero‐carbon‐ready 50% of heavy truck sales are electric 50% of fuels used in aviation More than 90% of heavy industrial
No new unabated coal plants
60% of global car sales are electric are low‐emissions production is low‐emissions
approved for development No new ICE car sales
Around 90% of existing capacity in
No new oil and gas levels fields Most new clean technologies in All industrial electric motor Almost 70% of electricity generation
heavy industries reaches end of
approved for development; no new heavy industry demonstrated at scale sales are best in class globally from solar PV and wind
investment cycle
What the energy transition means for
03 Dubai and Manchester
coal mines or mine extensions
1 020 GW annual solar Overall net‐zero emissions electricity Net‐zero emissions electricity globally
and wind additions in advanced economies
Phase‐out of all unabated coal
Phase‐out of unabated coal
and oil power plants
in advanced economies
2045
40
04 Decarbonisation considerations for cities 35 50% of heating demand
met by heat pumps
30
25
20
Gt CO2
15
05 Conclusion: pathways 10
5
0
-5 2020 2025 2030 2035 2040 2045 2050
06 Contact us Buildings Transport Industry Electricity and heat Other
Source: IEA
A Tale of Two Cities | The roadmap to reducing fossil fuel dependence
For any entity that was basing its phase-out of hydrocarbons on a more graduated
timeline, the adoption of the IEA’s targets will require it to move faster and more
01 Why now? ambitiously. The decade 2020-2030 will be decisive, when much of the groundwork
must be prepared and the required technologies scaled and deployed.
The IEA estimates that the total annual investment in energy will need to rise to over
US$ 4 trillion by 2030, compared to just over US$1 trillion in the years 2016-2020.
The IEA’s net zero report: time to New power plants, new factories, building retrofits, EV charging networks, and
02 fast-track the phase-out of fossil fuels energy-efficient white goods are just some of the areas where new infrastructure and
equipment will be required.
The IEA acknowledges that the world will continue to consume fossil fuels for decades
to come. Countries like the UAE are relying on future fossil fuel revenues to fund their
What the energy transition means for
03 Dubai and Manchester energy transition.
Yet, expectations could change abruptly, especially in developed countries, if there
are sharp drops in demand. We are already starting to see the introduction of more
stringent regulatory regimes, such as reductions in fossil fuel subsidies and increases
04 Decarbonisation considerations for cities in carbon taxes; changes in investor appetites and willingness to finance fossil fuels;
a rise in legal actions and resulting liabilities; and a shift in consumer preferences
in Western countries. The ‘slow and steady’ approach that minimises economic
disruption may not hold.
And finally, the IEA’s timelines will not be met without strong and effective
05 Conclusion: pathways
partnerships. Governments need to act and bolster their long-term pledges with
specific near-term policies and measures. Corporates whose business models are
based on the use of fossil fuels must now rethink them. And people should be made
aware of how the choices they make every day contribute to the global demand for
polluting fuels—and should be encouraged to shift to something greener.
06 Contact us
A Tale of Two Cities | The roadmap to reducing fossil fuel dependence
01 Why now?
What the energy transition means
02 The IEA’s net zero report: time to
fast-track the phase-out of fossil fuels
for Dubai and Manchester
What the energy transition means for
03 Dubai and Manchester
04 Decarbonisation considerations for cities
05 Conclusion: pathways
06 Contact us
A Tale of Two Cities | The roadmap to reducing fossil fuel dependence
The roadmap in the IEA report contains over 400 detailed milestones spanning all Dubai has a certain amount of autonomy within the federal system of the UAE. The
sectors and technologies. Various factors will shape the speed, scope and options centralised, coordinated approach in Dubai means that the centre of decision-making
01 Why now? available for energy transition in different parts of the world: their levels of fossil is at the state level, not at the corporate level. This can enable faster decision-making
fuel dependence, and differing sources of comparative advantage. Some cities and and rapid response to changes as circumstances dictate.
countries are further than others along the transition path.
Dubai has made a number of pledges on climate change and net zero to various
Implementing the transition will happen largely at the city level. Cities account for international bodies, with a focus on the decarbonisation of electricity and transport.
The IEA’s net zero report: time to approximately 66 per cent of global energy supply—and are where 75 per cent of all
02 fast-track the phase-out of fossil fuels greenhouse gas (GHG) emissions are generated. They are increasingly where people The city has its own energy strategy, the Dubai Clean Energy Strategy 2050, which is
live—about 55 per cent of the world’s population today and forecast to be 70 per cent more ambitious than the federal plan for the UAE. Its aim is to produce 75 per cent of
in 2050. Cities are the powerhouses of economic growth. Dubai’s energy from clean sources by 2050. The interim target, to 2030, is for a mix
of natural gas (61 per cent), clean coal (7 per cent), solar (25 per cent) and nuclear (7
They don’t often have free rein to shape their own destiny, but “[c]ities and per cent). As part of this strategy, it is the first Arab Gulf state to commission a coal-
What the energy transition means for
03 Dubai and Manchester subnational government have greater ability than national governments to create and fired power plant. The $3.4 bn Hassyan plan comprises four 600 MW units whose
lead multi-sectoral networks involving various levels of government, private sector operations are being phased in from 2020 through 2023.
and civil society.”
Dubai has a number of important strengths it can play to in its transition away from
Dubai, UAE fossil fuels. See Figure 3 for our assessment of Dubai.
04 Decarbonisation considerations for cities Glitzy, cosmopolitan Dubai is the largest city in the UAE, and the best known. The
economy of Dubai itself relies very little on oil and gas directly—its share of GDP is
only about one per cent. The government has sought to develop Dubai as a regional
financial, business, and logistics hub, and has invested heavily in its tourism and
service sectors.
05 Conclusion: pathways
Yet its location as the central trading hub in the UAE, a petrostate, and in the wider
Gulf region means that, indirectly at least, oil and gas markets will continue for some
time to be the driving force for Dubai’s economic development. The IEA estimates
however that annual per capita income from these commodities could fall by as much
as 75 per cent by the 2030s.
06 Contact usA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
Figure 3. How we scored Dubai’s ability to transition The city uses natural gas for most of its energy use—something it will need to reduce
in future. It has enormous potential for solar and could do a lot more to increase its
01 Why now? Social
installed capacity of renewables— beyond its 25 per cent target for 2030.
• Information flow
The city’s economic development took off in the 1980s, meaning that much of its
• Standard of living
infrastructure is relatively recent and able to accommodate new technologies. This
• Energy access gives it good scores for innovation ability and the smartness of its grid.
The IEA’s net zero report: time to
02 fast-track the phase-out of fossil fuels Technological Its Green economic potential scores lower due to the percentage of its trade in green
• Innovation ability products; the relatively low proportion of its workforce employed in green industries
• Smart grid (despite services being an important part of its economy overall); and its ranking on
Green Complexity Potential, which rates the economy’s future competitiveness in
• Clean electricity capacity
green products.
What the energy transition means for
03 Dubai and Manchester
Environmental Our overall view is that Dubai has one of the more difficult road maps in energy
• Air quality
transition but it is well positioned to make the change. Its relatively new infrastructure
• Renewable potential is comparatively energy efficient, and it has the potential to develop a world-beating
• Climate impacts capability in solar, hydrogen and CCS technologies. However, its location in an oil-
04 Decarbonisation considerations for cities and-gas-orientated part of the world exposes it to contingencies that could severely
impact its ability to manoeuvre.
Economic
• Fossil fuel independence
• Green econ potential
• Financing capability
05 Conclusion: pathways
Political
• Institutional quality
• Decarbonisation pledges
06 Contact us
• Regulatory
Source: Deloitte analysisA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
Manchester, UK Figure 4. Manchester’s energy use, 2018 to 2038
Greater Manchester is starting from a relatively strong position: it is a thriving city
01 Why now? in an OECD country. Its economy is already highly diversified, and its power grid is 2018
relatively decarbonised. As the largest urban area in the north of England, it is the 100% = 51.5TWh 18%
economic hub of the region.
36%
Its energy consumption is similar to the national breakdown. Buildings account for 36
The IEA’s net zero report: time to per cent of use, transport for 35 per cent, industry 11 per cent and electricity 18 per
02 fast-track the phase-out of fossil fuels cent. See Figure 4.
11%
What the energy transition means for
03 Dubai and Manchester
35%
2038
100% = 39.2TWh
21%
04 Decarbonisation considerations for cities
43%
11%
05 Conclusion: pathways
25%
06 Contact us
Buildings Transport Industry Electricity
Source: Electricity North West, CadentA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
The local authorities in the region have announced their own plans, prioritising a 50 Figure 5. How we scored Manchester’s ability to transition
per cent reduction in carbon emissions from buildings, energy use and transport by
01 Why now? 2025, and reaching net zero by 2038, 12 years ahead of the national government’s
Social
target. The plans also envision an overall reduction in annual energy use, from 51.5 • Information flow
TWh in 2018 down to 39.2 TWh in 2038.
• Standard of living
The decarbonisation of home heating will need sustained attention. Over 80 per cent • Energy access
The IEA’s net zero report: time to of buildings use natural gas for heating and cooking, one of the highest rates in our
02 fast-track the phase-out of fossil fuels cohort. Technological
• Innovation ability
Most of Greater Manchester’s housing stock was built before the 1980s, and • Smart grid
approximately a third before WWII. Future options for energy transition will likely
• Clean electricity capacity
include a mix of electrification, hydrogen, heating networks and hybrid options. But
What the energy transition means for
03 Dubai and Manchester the region will need to work in alignment with the national strategies, infrastructure
and incentives to craft options that are attractive to residents of its 1.1 million homes. Environmental
• Air quality
Efforts to electrify city fleets and to encourage more public and active transport use • Renewable potential
are moving forward quickly. Almost 100 per cent of the fuels used in transport are • Climate impacts
04 Decarbonisation considerations for cities petroleum products, due to high personal vehicle use and the prevalence of diesel as
the main fuel for freight and commuter rail systems.
Economic
• Fossil fuel independence
The central government has committed to ending new car sales of internal
• Green econ potential
combustion vehicles (approximately 2.5m vehicles per year nationally) by 2030. The
Greater Manchester Transport Strategy 2040 (published before the government’s net • Financing capability
05 Conclusion: pathways
zero plan) aims for 50 per cent of daily trips to be made by mass transport or active
modes, through an expansion of bus and light rail systems, and an increase in the Political
cycling infrastructure. • Institutional quality
• Decarbonisation pledges
See Figure 5 for our scores.
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• Regulatory
Source: Deloitte analysisA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
The UK economy is very diversified, and its oil and gas industry is small, occupying
around one per cent of GDP.
01 Why now?
Manchester’s renewable energy consumption is the same as the UK national
average: 13 per cent. Interestingly, the UK punches above its weight when it comes to
deployment of solar energy and Greater Manchester’s plans include a large amount
of rooftop solar in its planned energy mix.
The IEA’s net zero report: time to
02 fast-track the phase-out of fossil fuels A potential challenge will be in how the city finances its transition. It can benefit from
the central government’s planned Levelling Up agenda and the provision of funding
that is likely to be made available. Unlike Dubai, which can use government-related
entities to fulfil larger national goals, Greater Manchester will need to incentivise
private sector companies to participate, and to devise ways of getting its citizens to
What the energy transition means for
03 Dubai and Manchester adopt lifestyle changes.
04 Decarbonisation considerations for cities
05 Conclusion: pathways
06 Contact usA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
01 Why now?
Decarbonisation
02 The IEA’s net zero report: time to
fast-track the phase-out of fossil fuels
considerations for cities
What the energy transition means for
03 Dubai and Manchester
04 Decarbonisation considerations for cities
05 Conclusion: pathways
06 Contact usA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
A comparison of the two cities, with two very different sets of ambitions and
advantages, demonstrates the specific constraints and contexts that are at play. The
01 Why now? IEA report’s 400-plus suggestions offer a variety of paths to energy transition. Cities
will need to have a clear understanding of their particular strengths, weaknesses,
opportunities and threats when crafting their net zero plans:
• The level and form of government involvement, the city’s capabilities, and its ability
The IEA’s net zero report: time to to set a credible roadmap and implement will be critical;
02 fast-track the phase-out of fossil fuels
• The role of the citizens, how willing they are to support the transition, and how
much they are expected to pay for it; and
• The commercial and industrial organisations that will need to make meaningful
What the energy transition means for
03 Dubai and Manchester changes to their business models and, in some cases, lead the charge.
04 Decarbonisation considerations for cities
05 Conclusion: pathways
06 Contact usA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
Figure 6 suggests some key considerations that must be woven into any plan of action.
01 Why now? Figure 6. Considerations when charting a path to net zero
Neutral
Decision-making is centralised Decision-making requires buy-in
Political system
or limited to few groups of a range of interest groups
The IEA’s net zero report: time to Level of government National-level plan Regional or local-level plan
02 fast-track the phase-out of fossil fuels
Economy size Small Big
Fossil fuel dependence Highly dependent Highly independent
What the energy transition means for
03 Dubai and Manchester
Developmental level Emerging Developed
Diversification potential Low High
04 Decarbonisation considerations for cities
Low levels of ‘soft’ High levels of ‘soft’
Institutional support
infrastructure infrastructure
Sectors to decarbonise Harder Easier
05 Conclusion: pathways
Companies involved State-owned Investor-owned
Funding sources Private markets Public markets
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Manchester Dubai
Source: Deloitte analysisA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
Government involvement is key, at different levels. Whether it’s to establish national Manchester does not have a sovereign wealth fund to deploy although it should get
policies for economic transformation, or to set targets or standards or incentives for funding from the central government as part of the broader Levelling Up agenda. Its
01 Why now? buildings and fuel, government action can dictate how fast or slow, and how joined up proximity to one of the world’s largest financial centres, the City of London, should
or piecemeal the energy transition efforts will be. enable it to obtain further funding for energy transition. Its economy is already well
developed and diversified and its private sector is extensive and able to drive the
Dubai is an example of a top-down approach. The government is actively involved in transition forward. It just needs to have the right regulatory, institutional and financial
setting multi-sectoral, long-term plans to diversify the economy. It has large stakes in incentives in place.
The IEA’s net zero report: time to key companies.
02 fast-track the phase-out of fossil fuels
In Manchester, by contrast, the government will not have the same role: It needs
to establish the road map, and create the right frameworks and incentives. As the
decarbonisation efforts are largely in consumer-facing sectors, customer-centric
design and innovation is required, and where benefits will be shared mutually to
What the energy transition means for
03 Dubai and Manchester enable citizens and companies to make things happen.
Dubai’s transition will be more fundamental, but it has two key advantages that it can
leverage to shift more quickly: its weather and its wealth. Its climate and relatively low
population density put it 6th in a global ranking of 61 countries for solar potential. Yet,
04 Decarbonisation considerations for cities at present, it only ranks 19th in terms of installed capacity. Here it should go faster
and bigger with renewables—at this point, they are not only cheaper than fossil fuels,
but they play to Dubai’s natural advantages.
Dubai also has formidable financial firepower that it can deploy through the
Investment Corporation of Dubai (a sovereign wealth fund), the UAE’s SWF, the
05 Conclusion: pathways
Emirates Investment Authority, and other sources.
06 Contact usA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
01 Why now?
Conclusion: pathways
The IEA’s net zero report: time to
02 fast-track the phase-out of fossil fuels
What the energy transition means for
03 Dubai and Manchester
04 Decarbonisation considerations for cities
05 Conclusion: pathways
06 Contact usA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
Despite their different strengths and weaknesses, opportunities and threats, a few Form partnerships: Cities are where action needs to happen, but they cannot do it
steps are relevant to all cities: on their own. The transition will “involve simultaneous transformation of several vital,
01 Why now? interconnected infrastructure systems” and this requires a system-wide approach,
Rethink existing plans: The thirty-year horizon to 2050 to establish the essential meaning collaboration and partnerships at all levels.
preconditions for success might now have compressed to about ten years. The IEA
recommends ceasing all new development of oil and gas fields immediately. Move faster: Both cities have net zero plans that are more ambitious and with
shorter timeframes than the national plans. The technologies needed to meet their
The IEA’s net zero report: time to For those in fossil fuel-related industries thinking that the key threat was from respective goals – methane capture and solar generation for Dubai; alternative
02 fast-track the phase-out of fossil fuels government mandates and related regulation, recent events suggest that the heat sources (electric pumps, biofuels, heat networks) and transport types for
pressure could come from multiple sources: the legal system, the boardroom, Manchester—are available and deployed profitably at scale elsewhere.
investors, insurers and even consumer actions. The drastic drop in demand caused in
2020 due to COVID could be a preview of the future state of oil markets. The IEA calls for a ban on sales of fossil fuel boilers by 2025. The current UK
government plan to have 600,000 heat pumps installed per year by 2028 would
What the energy transition means for
03 Dubai and Manchester The economics of power provision are changing quickly. Take the example of Dubai’s need to be much more than the 22,000 or so currently installed. This will need a big
clean coal plant. When the deal was made, the agreed price of about 5 cents per increase in training and certification of qualified installers. Can the UK accelerate its
kilowatt-hour was cheaper than the price from local solar farms. That is no longer switch to decarbonised heat sources to meet the IEA timelines?
the case.
By having a good understanding of the transition, cities and their civic and
04 Decarbonisation considerations for cities Current strategies should be stress-tested across shorter timeframes, and across
social, technological, environmental, economic and political domains. The aim is to
commercial partners can take advantage of the opportunities in specific markets,
such as transport, small-scale energy systems or building decarbonisation, or in
ensure there is a clear view of advantages and disadvantages and where additional specific business lines, such as energy efficiency retrofits, or electric vehicle charging.
capabilities must be brought in.
The IEA’s message is clear: The transition is coming, whether or not governments,
Then, create a modular set of strategy elements that are resilient and flexible across cities, companies or citizens are ready for it. The pace is about to pick up. The
05 Conclusion: pathways
a variety of plausible timelines. Identify no-regret moves and robust moves and roadmap is clear. It is time for all parties to come together to make it happen.
prioritise the sequence.
06 Contact usA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
01 Why now?
Contact us
The IEA’s net zero report: time to
02 fast-track the phase-out of fossil fuels
What the energy transition means for
03 Dubai and Manchester
04 Decarbonisation considerations for cities
05 Conclusion: pathways
06 Contact usA Tale of Two Cities | The roadmap to reducing fossil fuel dependence
Mark Lillie Daniel Grosvenor Simon Bedford
Partner Power, Utilities and Partner
01 Why now? mlillie@deloitte.co.uk Renewables Leader sbedford@deloitte.co.uk
dgrosvenor@deloitte.co.uk
The IEA’s net zero report: time to
02 fast-track the phase-out of fossil fuels Bart Cornelissen Justine Bornstein
Energy, Resources Senior Insight Manager
& Industrials Leader: jbornstein@deloitte.co.uk
Middle East
bpcornelissen@deloitte.com
What the energy transition means for
03 Dubai and Manchester
04 Decarbonisation considerations for cities
Deloitte is helping clients to survive and thrive in a net zero economy, supporting them to: set their strategy; innovate their business
models and identify growth opportunities; design their enablers; and orchestrate their transformation.
Contact our team for more information.
05 Conclusion: pathways
06 Contact usThis publication has been written in general terms and we recommend that you obtain professional advice before acting or refraining from action on any of the contents of this publication. Deloitte LLP accepts no liability for any loss occasioned to any person acting or refraining from action as a result of any material in this publication. Deloitte LLP is a limited liability partnership registered in England and Wales with registered number OC303675 and its registered office at 1 New Street Square, London EC4A 3HQ, United Kingdom. Deloitte LLP is the United Kingdom affiliate of Deloitte NSE LLP, a member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). DTTL and each of its member firms are legally separate and independent entities. DTTL and Deloitte NSE LLP do not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member firms. © 2021 Deloitte LLP. All rights reserved. Designed and produced by CoRe Creative Services RITM0825425
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