Rae Kwon Chung, Chairman of the Global Energy international Prize Award Committee and winner of the Nobel Peace prize, addressed the third online meeting of experts for “The energy transition to the post-Covid world.”

The meeting took place within the framework of the programme “Russia and the World,” organised jointly by the National Research Institute of the World Economy and International Relations Institute of Russia’s Academy of Sciences and the Interfax news agency.

Rae Kwon Chung is a renowned expert in the field of the low-carbon “green growth” economy.

He has popularised the notion of ecologically clean development in which developing countries can initiate projects on their own on reducing greenhouse gas emissions. These countries’ economic development depends to a great extent on their ability to fight climate change.

Professor Chung said Russia plays a great role in the global energy transition and the gradual diversification of the world energy balance, based on the assumption of reduced use of fossil fuels.

“Russia will have to think about how to restructure and transform the energy landscape in the years to come,” he told the gathering.

“The technology of carbon capture can play a big role here, along with, at the same time, increased production of hydrogen.”

He cited as an example the scientific research presented in the Global Energy Association’s report “Ten key ideas in energy for the next 10 years.”

Chung believes that by developing this technology (along with the appearance of new markets), Russia will have the opportunity to export not only fossil fuels but also “green hydrogen” as a new energy source.

Based on globalenergyprize.org