Sharjah 24 – WAM: The energy supply crunch in Europe, Asia and the US this past year has underscored the need for smarter carbon-transition policy, Majid Jafar, the CEO of Crescent Petroleum (CP), told industry and policy leaders gathered for a virtual panel at Abu Dhabi Sustainability Week.

To make lasting progress, carbon transition policy must be tailored to each country’s needs and dynamics while addressing the limitations of renewable energy like intermittency and lack of storage.

"Any successful and sustainable policy must address the need for affordable and reliable energy in the developing world, where a billion people still don’t have electricity and 3 billion have no clean cooking solutions," Jafar told the attendees.