WEBVTT

1
00:00:00.190 --> 00:00:03.040
Shelly, Dr. Schueller,
welcome. Shelly, to you first,

2
00:00:03.040 --> 00:00:07.240
what do we mean when we talk about
energy security and what does a secure

3
00:00:07.710 --> 00:00:09.600
future with energy look like?

4
00:00:09.910 --> 00:00:12.040
When we think about energy security today,

5
00:00:12.040 --> 00:00:16.240
I think really we're thinking through
'how do we ensure reliability of access

6
00:00:16.730 --> 00:00:21.520
to everyone?' And that includes the 750
million people that don't have access

7
00:00:21.520 --> 00:00:24.800
today. So it's around
reliability of access,

8
00:00:24.800 --> 00:00:26.720
it's around affordability,

9
00:00:27.060 --> 00:00:30.200
and it's around security
of that supply overall.

10
00:00:30.200 --> 00:00:34.960
So I think really security of
supply will have to deal with how we

11
00:00:34.960 --> 00:00:37.720
ensure that everyone can
access affordable energy.

12
00:00:38.070 --> 00:00:42.120
Gayle, what are your expectations
and visions for a secure energy

13
00:00:42.120 --> 00:00:43.160
future?

14
00:00:43.160 --> 00:00:46.680
I think in a secure energy future,
I'd echo the points that Shelly made,

15
00:00:46.700 --> 00:00:49.520
but also, if there are disruptions,

16
00:00:49.580 --> 00:00:54.120
how do we track what's happening quickly
and get things back on board quickly as

17
00:00:54.120 --> 00:00:54.953
well?

18
00:00:55.180 --> 00:00:59.800
And so part of what 3M has been doing is
developing some new technology based on

19
00:00:59.800 --> 00:01:01.960
those data signals, with the grid,

20
00:01:01.960 --> 00:01:06.280
coming in from traditional
sources and from renewable sources

21
00:01:06.480 --> 00:01:10.400
being sourced to electric
vehicles and other things.

22
00:01:10.400 --> 00:01:14.160
We want to know those signals better so
that we can help use smart technology

23
00:01:14.290 --> 00:01:15.960
to make sure that everybody
has that stable grid.

24
00:01:15.960 --> 00:01:20.480
And I think a great example
of what Gayle's talking
about is how we responded to

25
00:01:20.480 --> 00:01:24.160
the Ukraine war. I think if
you look at gas from Germania,

26
00:01:24.160 --> 00:01:26.600
they were able to react
very quickly to set up SEFE,

27
00:01:27.230 --> 00:01:31.840
Securing Energy for Europe. And they
did that in a very short timeframe.

28
00:01:31.840 --> 00:01:36.120
And essentially working on that security
of supply for Europe at the moment,

29
00:01:36.920 --> 00:01:41.840
also speaks the fact that security
of supply is not an issue for the

30
00:01:41.840 --> 00:01:44.920
Global South or the Global North.
It's an issue for everyone.

31
00:01:45.180 --> 00:01:48.040
And as you point out with
the situation in Ukraine,

32
00:01:48.420 --> 00:01:52.360
yes it's about climate change effects
and things about severe storms,

33
00:01:52.540 --> 00:01:56.800
but it's also about global tensions as
well that can take out an electrical

34
00:01:56.800 --> 00:01:57.633
grid.

35
00:01:57.860 --> 00:02:00.040
You mentioned there are
some big challenges.

36
00:02:00.040 --> 00:02:03.120
What are you expecting some
of the challenges going
forward into the future and

37
00:02:03.120 --> 00:02:04.200
how 3M will meet those?

38
00:02:04.550 --> 00:02:08.400
Well 3M partners with our customers
all over the world to try to make a

39
00:02:08.400 --> 00:02:09.600
difference in important ways.

40
00:02:09.940 --> 00:02:14.560
And I unfortunately don't see a big
sign that we're going to have less

41
00:02:14.710 --> 00:02:19.120
severe weather or unfortunately that
we're gonna have less conflict in the

42
00:02:19.120 --> 00:02:23.840
world. So I think we need to be smart
about getting out ahead of them and really

43
00:02:23.840 --> 00:02:24.720
finding solutions.

44
00:02:25.570 --> 00:02:30.200
3M offers both the materials
that we've long used for weather

45
00:02:30.200 --> 00:02:30.720
stability,

46
00:02:30.720 --> 00:02:34.800
but also more in the digital space to
help sense when there's a disruption in

47
00:02:34.800 --> 00:02:39.040
the signal and help create the information
to make a change that's needed.

48
00:02:39.160 --> 00:02:40.000
Shelly,

49
00:02:40.000 --> 00:02:44.160
tell me more about the role of technology
and public policy in energy security.

50
00:02:44.160 --> 00:02:47.720
You mentioned the difference between
the Global South and other developing

51
00:02:47.720 --> 00:02:48.800
nations.

52
00:02:49.330 --> 00:02:53.320
So good question, but very
big question, I would say,

53
00:02:53.540 --> 00:02:56.120
and maybe let me tackle
the technology side first.

54
00:02:56.310 --> 00:03:00.320
I do think that we have a lot of
proven technologies on the table.

55
00:03:00.650 --> 00:03:04.440
We really do need to think through
how we scale that at a pace that is

56
00:03:04.440 --> 00:03:06.720
acceptable. And in my perspective,

57
00:03:06.720 --> 00:03:11.000
that comes down to ensuring that we're
diverting the financing that we need

58
00:03:11.800 --> 00:03:16.240
to replace the older fuels with
the low carbon fuels going forward.

59
00:03:16.290 --> 00:03:20.720
So when we think about technologies,
they're winning technologies out there.

60
00:03:20.720 --> 00:03:21.560
There's renewables.

61
00:03:21.560 --> 00:03:26.080
We've seen the cost of renewables come
down tremendously in the last decade.

62
00:03:26.180 --> 00:03:29.360
And then there are future
technologies that we are betting on,

63
00:03:29.360 --> 00:03:34.040
like carbon capture. Now to your
second part, what's the role of policy?

64
00:03:34.470 --> 00:03:39.400
I think the policy mix for every
country will vary quite a bit depending

65
00:03:39.400 --> 00:03:44.320
on the culture, depending
on the corporates that exist
within those countries.

66
00:03:44.770 --> 00:03:48.280
So we really have to look at the
spectrum of those that really mandate,

67
00:03:48.280 --> 00:03:50.920
versus those that really incentivize.

68
00:03:51.490 --> 00:03:56.160
So we will see globally
a mix of carbon taxes,

69
00:03:56.160 --> 00:03:59.200
incentives, and different policies
that are being put in place.

70
00:03:59.710 --> 00:04:04.240
I think that it's
important to understand by

71
00:04:04.240 --> 00:04:06.560
geography what's happening
in terms of the mix.

72
00:04:06.560 --> 00:04:09.000
And I would agree that there's a lot...

73
00:04:09.000 --> 00:04:12.680
that's one of the things I think is most
exciting about this COP is the ability

74
00:04:12.730 --> 00:04:15.920
to come together with so many
technologies that are ready to go. Yes,

75
00:04:15.920 --> 00:04:17.680
there's mature ones that are proven,

76
00:04:17.780 --> 00:04:21.080
but increasingly there
are more new technologies,

77
00:04:21.080 --> 00:04:25.520
renewable energy and new and different
ways and the cost coming down.

78
00:04:25.540 --> 00:04:30.080
And I think there's opportunities for
countries that maybe haven't had the

79
00:04:30.080 --> 00:04:32.560
traditional infrastructure to
leapfrog into the new ones.

80
00:04:33.080 --> 00:04:34.120
Gayle, Shelly, thank you so much.