Regardless of location , all industries will have to shorten innovation cycles

Step six – incorporate renewables and switch to microgrids

Organizations need to use renewables such as solar and wind energy from their own sites or from industrial producers . Microgrids have also become a significant feature of green energy . These are small electricity distribution grids where the site is directly managing and optimizing its own sources , making best possible use of electricity and ensuring manufacturing continues if public power grids go into brownouts or blackouts .

Step seven – the hydrogen economy

Hydrogen is an exciting prospect as a clean alternative to fossil fuels , but the economics remain challenging . Will organizations be prepared to pay a green premium for it ?

Europe has moved more slowly on this than several other parts of the world such as the Middle East , India and Australia .

All these steps are achievable , although electrification of very high energy processes such as ethylene cracking or steel production could be more long-term . Regulatory uncertainty about emissions is also a factor that inhibits investment in new sources of energy along with differences in definitions of bio feedstocks between trading blocs . We can also see how the UK and Europe are at structural and demographic disadvantages compared with many Asian economies . The retirement of skilled workers in the UK and Europe is a factor , whereas south Asia and the Far East have larger skills bases , agilely form consortiums and feature growing manufacturing capacity .

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