ANIKA McMAHON and HANNAH SBEGHEN
Fossil fuel companies will rely on community participation and adaptation to survive and succeed into the future.
Speakers at the Global Integrity Summit have highlighted why new energy business models must replace traditional models responsible for the increase in global warming.
Enova Community Energy Non-Executive Director Mara Bun said communities’ lack of choice is the reason fossil fuels still dominate the energy market.
She said societal norms have led consumers to believe economic, environmental and social decisions should be decided for them by mega industries.
Dot Earth Founder Andrew Revkin says consumer education and information sharing are factors to a future low-carbon world.
“Consumers will have a choice,” he said.
“They [industries] need to adapt or they will disappear.”
Mara Bun’s energy company Enova has introduced community owned energy to challenge the monopolization of energy.
Ms Bun said the two biggest challenges are global warming and urban migration.
“One of the biggest trends is that cities are growing, with 70% of the world expecting to move to cities and make them global mega cities.”
Ms Bun said the second biggest trend is global warming.
“These trends are the biggest challenges about are also the biggest opportunities for change,” she said.