👉 Background: BP, which stands for British Petroleum is the oil and gas giant from the UK that was founded way back in 1909. Over the last 12 months, supply of energy and oil has plummeted, while the price for consumers has skyrocketed.

👉 What happened: In fact, BP made nearly $39.8 billion last year in profits. That’s more than double its 2021 profits. But most surprising was that it announced it was revising its plan to lower emissions.

👉 What else: Back in 2020, BP announced that it was planning to drop its net emissions by 35 per cent by the end of this decade. But now, it has backtracked and will only drop its emissions by somewhere between 20 to 30 per cent. The energy trilemma is well and truly alive.

What's the key learning?

💡 The energy trilemma is about addressing three often conflicting energy challenges. You need to ensure:

• Energy security - like meeting current and future energy demand
  
• Access to affordable, clean energy
• Environmental sustainability
  

💡Imagine you've got a scale with three big plates on it, each representing one of these aspects. When you make changes to one plate, it affects the other two plates. For example, if you want to make energy more accessible and available to everyone, it might end up being more expensive.

💡 It’s a way of thinking about the trade-offs we need to make when it comes to energy. But in this case, energy is kinda getting more expensive.. And less sustainable?

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