Policymakers Must Offer Clarity to Secure Net-zero

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Net-zero refers to the balance between the amount of greenhouse gas produced and the amount removed from the atmosphere. We reach net-zero when the amount we add is no more than the amount taken away.

Government must play a greater role in the global energy market, either through a direct stake or as a co-investor, to support the new emerging energy system, according to a new study by PwC.

The report, Inventing tomorrow’s energy system: The road ahead for molecules and electrons, finds that the growth in renewables, estimated to account for 90% of the global energy market by 2050, and scaling up of hydrogen, will lead to a greener but substantially more complex energy market.

Electrons produced by renewables are set to power factories, heat and cool buildings, fill up batteries that will capture power and become generators and, as electrification hits the transport sector, emerge as the major fuel for cars.

While hydrogen will link the electricity and gas markets, allowing for large-scale storage, powering of heavy-transport, and the massive decarbonisation of industrial power demand. Consequently, sectors such as Oil & Gas, Utilities, and Chemicals, which are currently sharply delineated, will begin to converge and form into integrated energy systems over the next decade.

This enormous shift in the global energy sector and the players within it, will require greater coordination and collaboration between government and the market to successfully work towards a greener future.

To meet global emissions targets, government and business must work together in new, and untested, ways to realise the full potential of renewables. Getting the energy transition right is not only critical from an environmental perspective, but also an economic one.

The report estimates that the cost of transforming the electricity networks in Europe alone will be at least USD$2 trillion over the next 30 years.

It also cites the International Renewable Energy Agency’s forecast that USD13 trillion is required to be spent on power transmission and distribution networks across the globe in the years to 2050.

Secret Data Reveals HR Industry COVID-19 Outlook

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Confidential data is information that is not available to the general public. In general, it is personally identifiable information that is considered private in nature, such as health information, addresses, prior work experience, and financial data.

A new online survey reveals less than 10% of businesses had a HR policy in place covering a disease pandemic. Approximately 80% now have a policy, or plan to introduce one in response to the COVID-19 crisis.

An initial group of 65 senior HR leaders and in-house counsel in organisations employing more than 200000 employees between them and the findings are being presented now to help guide employers as they seek to effectively manage their workplace response to coronavirus.

This comes as the WHO has confirmed the status of the virus has been elevated to a pandemic.

Human Resources

58.8% of respondents confirmed that they had implemented a workplace policy addressing pandemic disease in response to COVID-19.

10% still plan to implement a policy while almost 11% still had no plans to implement a policy at the time of response. Less than 10% had a policy in place prior to the Coronavirus outbreak.

Business Travel

Employers are being cautious with regard to travel.

Almost a quarter of respondents have restricted both international and UK domestic travel beyond FCO guidance and a further quarter have restricted international travel specifically beyond FCO guidance.

Remote Working and Isolation

The vast majority of businesses are managing NHS-recommended self-isolation by requesting employees work from home.

However, businesses are taking a nuanced approach with a combination of responses being used, including sick leave and sick pay and full pay without work or sick leave. 51% of respondents are directing some employees to self-isolate as a precaution beyond government advice while a similar number are allowing employees to choose to self-isolate.

57.7% of polices reported by survey respondents cover employees should their care arrangements break down.