Introductory description

The global energy system is the largest source of anthropogenic greenhouse gas emissions in the global economy. Therefore, to address the threat of climate change and achieve a sustainable future requires the rapid decarbonisation of energy production, transportation, and consumption. Creating a sustainable energy system presents challenges to and opportunities for businesses, governments, and individuals. This module adopts a ‘place, states and markets’ approach to energy system transformation that explores the energy transition challenges facing the different parts of the global economy; the role of governments and international organisations in regulating and supporting energy transitions; the challenges that ‘transition risk’ presents to the incumbent fossil fuel industry; and the business opportunities presented by the growth of low-carbon energy systems and services. Topics addressed by the module include:

Competing visions of the future as presented in ‘energy scenarios,’
The strategic transformation of the businesses involved, both incumbents and new entrants
The political issues of governance as nations and international organisations seek to manage the energy transition
The geopolitics of energy system transformation
The ‘re-scaling of the energy system’ and the development of local energy networks
The social impact of the economic and environmental costs involved in creating a new sustainable energy system that is also secure and affordable
Module will normally be co-delivered with another member of WBS faculty

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Introduction and Global Energy Dilemmas
Forecasts, Scenario Planning and Energy Futures
Sustainable Energy Transitions and Strategy
Investment & Probability
Winners and Losers 1
Winners and Losers 2
Carbon budgets & Stranded Assets
The Future Role of Gas?
LNG Canada Case Study
Energy in China’s 14th Fiver Year Plan
Geopolitics of the Low Carbon Transition
Hydrogen: Hyper or New Hope?
Covid-19 and Sustainable Energy Transitions
Energy, Transport, and the Climate Change Challenge
The Future of Mobility
Grids & Local Energy: Introduction
Grids & Local Energy: E.On Case Study
The University of Warwick as a Local Energy System
Group Discussion: Energy for the C-Suite
Conclusions: Accelerating Sustainable Energy Transitions

Learning outcomes

By the end of the module, students should be able to:

• Demonstrate increased knowledge of all sectors within the global energy industry and of key events and challenges.
• Demonstrate a critical awareness of the political and regulatory frameworks within which the industry operates; and the goals that governments and industry seek to achieve, such as universal energy access and Net-Zero.
• Demonstrate a comprehensive understanding of why business must cope with uncertainty and risk, often using forecasts and scenarios to aid decision making.
• Demonstrate a critical whole system thinking approach to the energy industry, both in economic terms and in terms of the technological, social and political context within which it operates.
• Evaluate the connection between business activity and the management practices, business models and regulatory frameworks that manager can deploy or influence.
• Evaluate and assess the uncertainties inherent in business decision making and so develop the managerial skills needed for the dynamic nature of management at senior levels.

Indicative reading list

Bradshaw, M.J. (2014) Global Energy Dilemmas: Energy Security, Globalization and Climate Change. Cambridge: Polity Press.

Ekins, P., Bradshaw, M. and Watson, J. (2015) Global Energy: Issues, Potential and Policy Implications. Oxford: OUP.

Fouquet, R. (2018) ‘Consumer surplus from energy transitions’ The Energy Journal 39(3) pp167-88

Fouquet, R. (ed) (2019) ‘Handbook for Green Growth’. London, Edward Elgar

Helm, D. (2017) Burn Out: The Endgame for Fossil Fuels. London: Yale University Press.

IRENA (2019) The Geopolitics of the Energy Transformation. Abu Dhabi: IRENA.

Kuzmeko, C., Keating, M.F. and Goldthau, A. (eds.) (2015) The Global Energy Challenge: Environment, Development and Security. London: Palgrave Macmillan.

Smil, V. (2016) Energy Transitions: Global & National Perspectives (2nd Edition). Santa Barbara: Praeger.

Sovacool, B.K. (2017) ‘The History and Politics of Energy Transitions: Comparing Contested Views and Finding Common Ground.’ In D. Arent, et al. eds. The Political Economy of Clean Energy Transitions. Oxford: Oxford Scholarship.

Van de Graaf, T. and Sovacool, B.K. (2020) Global Energy Politics. Cambridge: Polity Press

World Economic Forum (2019) The Speed of the Energy Transition. Geneva: WEF.

Publications and Key Reports from International Organizations, such as:

International Energy Agency (IEA), specifically their annual World Energy Outlook and World Energy Investment reports
International Monetary Fund (IMF)
Intergovernmental Panel on Climate Change (IPCC)
International Renewable Energy Agency (IRENA)
World Bank
Publications form energy industry actors, such as: BP, Equinor, Exxon Mobil, International Gas Union, Shell, World Energy Council, etc.

Publications form NGOs and think-tanks, such as: Carbon Tracker Initiative, Chatham House, Columbia Energy Policy Centre, E3G, Oxford Institution for Energy Studies, etc.

Interdisciplinary

Students will be expected to demonstrate a whole system thinking approach to the energy industry, both in economic terms and in terms of the technological, social and political context within which it operates.

International

The module will look at the energy sector from a global perspective, considering different regions and national economies, and global sustainable energy management.

Subject specific skills

Demonstrate scenario planning to understand the key drivers and uncertainties associated with the energy transition.

Transferable skills

Demonstrate an ability to scale between functional details, individual business situations and the wider industry, political and societal context and translate this into effective written work.

Demonstrate awareness of the key leadership challenges associated with the energy transition and the qualities need to thrive under uncertainty.