DECARBONIZATION AND ENERGY SECURITY: EVALUATION OF THE CORPORATE STRATEGY TO COMBINE THE TWO ASPECTS
The Electric Sector ranks as the largest emitter of Greenhouse Gases in the World and in 2018 was responsible for around 32% of emissions in the World. Decarbonization solutions for this segment include replacing fossil fuels with renewable energy that is fundamentally intermittent, such as solar and wind. As the world intensifies efforts to decarbonize the electricity sector, concerns such as energy security arise. Therefore, the decarbonization and energy security agendas need to be integrated into companies' strategies. In this way, the present work aims to assess whether the decarbonization strategies of companies in the electricity sector are contemplating aspects of energy security and suggest strategies to bring them together. This present work is divided into 2 stages: (1) Decarbonization strategy for the development of low-emission technologies in companies in the electricity sector; (2) Safe Decarbonization: case study for a coal-fired power plant. In order to meet the objective of Stage 1, the public responses to 16 questions of the CDP Climate were evaluated considering 22 companies in the electricity sector, leaders in the Climate Change agenda (Companies that obtained an A or A- grade in the year 2019 in the Climate questionnaire of CDP). Based on the findings of the first phase, in Step 2 a thermodynamic analysis of potential routes for decarbonization was conducted considering a typical 500 MW power generation plant through a Rankine cycle using fossil coal (Base case). The developed scenarios aimed to translate the decarbonization pathways, map the technological transition difficulties to the base case and build emission reduction trajectories aligned with the principles of Science Based Targets, always considering the energy security factor as paramount. From Step 1 onwards, it was possible to identify that despite companies bringing some elements of energy security in their responses, this topic is not integrated with a decarbonization strategy. For a complete performance, it is proposed to expand the 3D strategy, already used by some companies, to the new concept created in this work called 3(D+S): Decarbonization, Decentralization and Digitization considering Energy and Social Security for a fair Society