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s concerns mount over the lack of a globalclimate agreement, there is a wave ofinterest in renewable energy sources. Wefirmly believe that wind energy will playan integral part in addressing the energy and climatechallenges the world faces.As the UNFCCC and the world's leaders meet in Durbanto discuss climate action, at DNV we fully support thegoal of sustainable, low-carbon growth, and are workingclosely with our customers and other stakeholders toachieve this. Despite the backdrop of no legally-binding globalagreement at a time of austerity, more and morecompanies are recognising that they can gain acompetitive advantage by investing in low-carbontechnology and business opportunities. The opportunity is global and that is why DNV is workinginternationally to help them fulfil their climate changeambitions. I firmly believe that the need for renewable energy willgrow as governments and societies react to climatechange, providing great opportunities for investment. Inmany cases, investments in cleaner energy sources aremore expensive than fossil fuels, but they will becomemore valuable as concerns about oil depletion, politicalturmoil and CO2 emissions increase. As renewable energy is mostly locally sourced, it is alsoattractive from a security of supply standpoint,becoming politically critical for nation states that areoverly dependent on others for traditional supplies of oiland gas. Almost 50 per cent of the US$20 trillionexpected to be invested in energy developments by2030 will be invested in renewable energy and powergeneration and transmission. EMPOWERING WIND Wind energy has the potential to increase ten-fold,becoming second only to hydropower in the renewablesector. It is becoming global, and it is increasinglymoving offshore. According to a study by the GlobalWind Energy Council and Greenpeace International,wind power may supply enough energy to cover onefifth of the world's global power demand by 2030.Deepening our involvement in the rapidly-expandingoffshore wind sector is a key priority for us. We workedon the very first offshore wind turbine 25 years ago andhave today certified more than two thirds of the world'soffshore wind farms, making us a major player withinrisk management and advisory services for thisindustry. Also, we are one of the top three players in theworld and the largest in North America when itconcerns onshore wind. We are committed to drive the industry forwardthrough development of new standards,specifications, guidelines and cutting edgeknowledge, often together with the key industryplayers. As an example, DNV and key industry playershave commenced the development of a commondesign standard for floating wind turbine technology.DNV's knowledge and experience is also utilised tooptimise technology and investment returns. Weregularly provide due diligence services forinvestments and acquisitions in wind projects. Our belief in the wind energy sector is also fuelled bythe fact that a European energy policy has beendeveloped based on the three pillars:competitiveness, sustainability and security of supply.The so-called 20/20/20 targets for 2020 have beenset - 20 per cent of energy should come fromMAKING A DIFFERENCE056INNOVATION TECHNOLOGYDR HENRIK O. MADSEN, CEO OF DET NORSKE VERITAS (DNV) A" "DNV IS COMMITTED TOSUPPORTING THE UN SUSTAINABLE ENERGY FOR ALLINITIATIVE AND IS WELL POSITIONED TOBUILD TRUST AND CONFIDENCEIN MANAGINGTECHNOLOGYTRANSFER RISKS

INNOVATION TECHNOLOGY057Right: Dr Henrik O.MadsenBelow: Bjorn K.Haugland, COO renewable energy sources, greenhouse gas emissionsshould be reduced by 20 per cent and energyefficiency should be improved by 20 per cent - layingthe foundations for the transition to a low-carbonenergy society.Although wind energy has been thefastest growing renewable energy source in recentyears, other technologies will be equally important toreach these goals. DNV is therefore engaged with waveand tidal technology, photovoltaic and solar thermalenergy, and other renewable resources, as well as theintegration of these renewable energy sources into ourtransmission and distribution systems.ENERGY EFFICIENCYWe have also established new standards andindependent accreditation for energy-efficienttechnologies. All the discussion of green technologyagrees that energy efficiency is the low-hanging fruit.There are a lot of similarities between the work we doto check the safety of projects offshore and what wecould do with energy efficiency. In both fields, studieshave shown that good performance is 50 per centdown to the quality of the systems you have in placeand 50 per cent down to how you use them. So we areestablishing new standards and advisory services thatcould be offered to our customers and also operatealongside energy efficiency programmes. CarbonCapture and Storage (CCS) is considered by many to bethe second most powerful tool for emission reductionsin the long term - after energy efficiency. DNV and theenergy industry, with valuable contributions fromgovernment agencies, launched the world's mostcomprehensive guideline for the safe and sustainablegeological storage of CO2. The purpose is to help bothindustry and regulators speed up the large scaledevelopments of CCS. TECHNOLOGY TRANSFERAnother way in which DNV is involved in climatechange-related activities is its leading role in thevalidation and verification of clean technology projects in receipt of funding from the Kyoto Protocol'sClean Development Mechanism (CDM). The firstcommitment period expires next year. DNV is followingthe discussions. It is encouraging to see that thedeveloping countries have committed to the UNFramework Convention on Climate Change andpledged to mobilise funds to finance technologytransfer, capacity building, mitigation and adaptationactivities in developing countries. DNV is committed tosupporting the UN Sustainable Energy for All initiativeand is well positioned to build trust and confidence inmanaging technology transfer risks. We also expectclimate adaptation to be an important service field forus going forward. Our researchers are currentlyanalysing the issue and developing methods andfinding new services that DNV can offer to ensure aglobal impact for a safe and sustainable future for ourcustomers and, ultimately, society at large. Indeed, weare all on a sustainability journey and a low-carbonenergy future is our destination. There is a long way togo, but we remain committed to making a positivedifference. I sincerely hope the governments will makeprogress in Durban and lead us on our way to a cleanand sustainable future. nABOUT THE AUTHORDr Henrik O. Madsen had been heading all the majorbusiness areas in DNV and the Research Divisionbefore being elected the CEO of the company. DrMadsen was elected into the US Offshore EnergyCentre's Technology Hall of Fame as an OffshorePioneer in 2002. He has published several books andmore than 80 papers in his fields of expertise. Dr Madsen is also a Council member of the WorldBusiness Council for Sustainable Development(WBCSD) and a member of the Focus Area Core teamfor Energy and Climate. ABOUT DNVDNV's self-owned independent foundation status isrecognised around the world by Governments,organisations and companies. The Norway-based riskmanagement specialist provides services to a broadrange of industries, primarily the maritime and energyindustries, including the renewable energy sector. Its core competence is to identify, assess and adviseon risk management. DNV currently has 8,440 staff spread over 300offices in 100 countries.