Global law firm Reed Smith today launches a report titled ‘Energy transition – an evolving journey’, which explores the current energy landscape and the risks and opportunities that achieving the ambition of a carbon-neutral global economy presents to the energy industry.

Related Professionals: Prajakt Samant

Authored by lawyers in Reed Smith’s Energy & Natural Resources (ENR) industry group, the report examines what a decarbonized world might resemble and the role the energy sector will play within it, considering factors such as: Which clean fuels will really take off; the role of renewables; the patchwork of regulations impacting the use of hydrogen as a fuel; and, how the new world of energy will be financed.

Key topics in the report include:

  • Decarbonization, taxing carbon at the border, carbon offsetting, and scaling up the carbon neutral fossil fuels market
  • Alternative fuels, with a focus on LNG marine bunkers’ role in the transition to cleaner shipping, and the challenges and opportunities of nuclear energy
  • Hydrogen, the regulations by jurisdiction and changing transmission systems
  • Renewables and how battery storage factors may determine project viability
  • Financing sustainable energy, energy security over emission allowances, and the ESG considerations

For further information, read the Energy Transition report.

Reed Smith is deeply involved in the evolving landscape of the energy industry. The firm helps clients of all sizes navigate and succeed across the globe, whether advising on trading operations, seeking financing for renewables projects, or with environmental compliance or regulatory issues.

Praj Samant, chair of Reed Smith’s ENR industry group, who has over 20 years of experience representing energy and commodity companies, said: “Late last year, world leaders gathered at COP26 to set targets for decarbonizing the global economy. The table was set for the energy transition, and the energy industry was moving quickly to understand how it could continue to evolve to help governments achieve these ambitious new targets.

“Since then, the energy landscape has changed dramatically. Russia’s invasion of Ukraine forced nations and trading blocs to focus their immediate attention on energy security. With this shift in priorities, progress toward a carbon-neutral economy has slowed but certainly not stopped.

“Taking into account many of the political, regulatory and environmental changes, we have explored the journey towards a carbon-neutral economy, and hope this report will help our clients to better understand this complex and evolving landscape.”

Reed Smith’s multidisciplinary Energy & Natural Resources Group comprises around 160 lawyers worldwide, combining regulatory, transactional, financial, environmental health and safety, projects and construction, and litigation disciplines.