The future of the electricity and power industry is in question of whether they will survive in 30 years’ time. France is setting strict regulations on licencing restrictions with the goal and vision of switching to renewable energy sources and putting an end to nuclear power stations which can influence other countries and impact businesses globally. Coming up with a solution to reduce the Co2 emissions is becoming a global trend which developed and developing countries are taking steps towards.

France will no longer issue new licences for oil and gas exploration
An environmental step ‘Lizzie Dearden’ from the Independent mentions, ‘France is to stop granting licences for oil and gas exploration as part of a transition towards environmentally-friendly energy’. Environmentally friendly attempts are being made and an ultimate goal of switching to a renewable energy source is leaving the nuclear power stations that provide ‘Around 75 per cent’ of France’s electricity and ‘around 200,000’ staff in risk of employment. France has set a goal to run completely on renewable energy similar to what Norway has achieved. However, this will come with a price.

Unemployment rates will increase

Hundreds and thousands of Jobs in the electricity and power industry will be lost if all the electricity and power is received from renewable energy sources.

Government has to be a step ahead to soften the impact

Governments must help provide transferable skills to the electricity and power industry staff that are in risk of losing their job in the future. This must be done in order to support the economy by enabling employability of electricity and power staff to be transferred into the new sector.

Influence on developing countries

This is influencing developed countries to compete in building a reputation for reducing Co2 emissions and the world is slowly moving towards an environmentally-friendly era.

– Chinese energy firms have built a Panda-shaped Solar Farm

– England aims to switch 90% to renewable by 2030

– In France a law was passed last year to reduce the nuclear proportion to 50 per cent by 2025

– Brazil is aiming to reduce its emissions and cut deforestation by 80% by 2020.

– European Union wants to reduce their emission by 20% by 2020.

Countries, governments and regulators are working to create a sustainable future. Companies must conduct their operations in an environmentally friendly way to contribute to the sustainable development of the environment they work in.

Global Synergy Resources has a market orientated approach in matter to meet our clients’ needs in constantly developing and adapting to the market changes and managing our supply chain from supplier to end user with a responsible approach towards the environment

By Ibrahim Can Kaya, Financial Analyst, Global Synergy Resources, London 02/08/2017