“There is no balanced, equitable climate without a natural environment capable of soaking up an enormous amount of carbon.”  

Equally important is to realize that economic growth and sustainability are not mutually exclusive, as Helm argues in his latest book "Legacy: How to Build the Sustainable Economy.” Current economic models, which prioritize gross domestic product at the expense of environmental concerns, are outdated, he says. “There's a lot of nonsense, especially amongst green groups, that economic growth is bound to lead to more climate change.”  

In fact, the opposite is true. Helm points to solar power, energy storage and nuclear technology as areas where breakthroughs, especially those relying on artificial intelligence, could dramatically alter the energy landscape. “There’s a cornucopia of new ideas, new technologies which are coming thick and fast—faster than ever before in human history.” When it comes to solar, for example, “one hour of sunshine is about equivalent to the year's total global consumption of electricity,” he says. “The question is how to harvest it, how to transform it into a form we can use.”  

Whatever the answers, Helm says now is the time to initiate cohesive, forward-looking policies that anticipate technological changes, address legacy costs transparently, and integrate environmental and market objectives. It’s also imperative to simplify regulation, enhance market efficiency and ensure fair pricing in support of the energy transition. 

It's a transition that presents plenty of opportunities, Helm notes, highlighting the potential for companies with large rooftops that could be outfitted with solar panels to charge vehicle fleets. He also envisions battery swap systems for delivery vans, which he conceives as something akin to a pit stop in a Formula 1 race. “A vehicle drives into a depot, out goes the battery, in goes another one and the [drained] battery is charged when it's most efficient.” 

Helm urges large corporations like Prologis, which is on track to reach net-zero emissions across its value chain by 2040, to lead the charge on renewable and other energies. “If large companies don't engage and deliver important parts of the transition, then it isn't going to happen.” 

But happen it must, and this is where Helm sounds downright optimistic. “I have no doubt that we can solve our energy problems,” he says. “I have no doubt that we have more energy than we could possibly ever use available to us.” What’s needed, however, is to bridge “that gap between the technologies we have today and what we're going to need to make that transition.” 

Sir Dieter Helm’s latest book, "Legacy: How to Build the Sustainable Economy," can be purchased or downloaded for free on his website.