Event Summary
MSC Co-Hosts High-Level Roundtable on Energy & Climate Security in Stavanger
In the middle of unprecedented shifts in European energy security, the Munich Security Conference co-hosted a high-level roundtable with the Offshore Northern Seas Foundation to discuss the combined effects of Russia’s invasion of Ukraine and a growing imperative to accelerate the green transition. The event brought together key decision-makers from across the transatlantic community and the Global South with leaders from industry and civil society.
On August 28, 2022 the Munich Security Conference (MSC) co-hosted a high-level roundtable on energy security with the Offshore Northern Seas (ONS) Foundation in Stavanger, Norway. The event on the eve of the bi-annual ONS Conference, one of the world’s largest gatherings of the energy industry, brought together around 40 high-level participants for several discussion sessions chaired by MSC Vice-Chairman Ambassador Boris Ruge and ONS President Leif-Johan Sevland. The war in and for Ukraine combined with the impact of accelerating climate change provided both a dramatic backdrop to the discussions and a clear sense of urgency. Relevant action items identified during the sessions have been integrated into the "transatlantic to-do list" which the MSC launched in the wake of its Munich Leaders Meeting in May 2022 in Washington, DC.
Black Swan or Grey Rhino? European Energy Security under Pressure
Participants agreed that “the writing had been on the wall for quite some time” and that neither the sudden breakdown in relations with the Russian Federation nor its willingness to weaponize European dependencies should have come as a surprise. While the mistakes of the past weigh heavily and have put both the EU as a whole and individual member states into a difficult situation, the discussions focused on the way ahead and, in particular, on strategies to overcome short-term supply pressures while maintaining, or potentially even increasing, momentum on reaching long-term goals and commitments. True to the motto of this year’s ONS Conference, participants highlighted the need to rebuild “trust” within the system by decreasing dependencies, reducing vulnerabilities to future shocks, working towards meeting climate commitments and, through it all, clearly communicating the many policy dilemmas faced by key decision-makers at this point.
Energy Security vs. Climate Security vs. Everything Else
Pundits often stress the (perceived) trade-offs between increasing energy security and fighting climate change. Many participants highlighted the inherent shortcomings of such arguments and instead called for using one to achieve the other. There was wide-spread agreement that it was becoming cheaper to do the right thing than to do the wrong thing and that incentives were beginning to align. However, disinformation by illiberal actors as well as populist exploitation of individual fears were seen as considerable risks to a broad societal consensus on the need for and path to a green transition.
Managing and Accelerating the Green Transition
Participants shared a long list of recommendations on how to best reach climate commitments without endangering prosperity, societal cohesion or national security. Many stressed the need to increase the commercial viability of new technologies and green alternatives by increasing predictability of demand, decreasing investment risk, accelerating permitting and facilitating deployability. Others highlighted the need to prioritise grid stability, land availability, and de-bureaucratisation at all levels. All agreed that success in meeting global goals through these and other measures depended on agreeing a common narrative with the Global South and synchronising efforts across the world.
