Surveying over 61,000 people, new research conducted by the Offshore Northern Seas (ONS) conference found 95% of individuals are ready to transition to a Circular Economy.

With the climate crisis being one of the largest challenges facing the industry, and wider society, the ONS event highlighted the industry’s strong intentions for effective action and collaboration to combat the climate crisis.

James Calleia, Energy Sales Manager at MSP, comments,”In order to transition to a circular economy, both large established firms and younger more agile companies will need to play their part. We are seeing an increasing number of organisations get involved, as well as Governments introducing clear targets and policy support to close the economic loop.

“It is a positive sign that more than 9 in 10 are ready to transition to a Circular Economy. However, a number of individuals have raised concerns over the timelines required for the oil and gas industry to begin this transition.”

Despite the ONS survey finding a consensus for an urgent transition toward the circular economy, 61% of respondents agreed it was unrealistic for the oil and gas industry to transition to this process within the next five years.

James added: “In the short term, we believe that oil and gas currently has a very important part to play within energy security and MSP, a position our customers appreciate. In the longer term, we believe that a structural change will take place and our customers will look towards sustainable energy through the use of renewables, as we progress towards a more sustainable future.”

A further insight from the event, was the large presence of students, ranging upwards from middle school to young professionals, which participated in the ONS Young arena.

James noted, “The ONS conference also highlighted the importance of encouraging and educating the next generation, with over 2700 registered students, and 170 middle school students present.”

While the ONS is an excellent event for gathering industry leaders to meet and find solutions for a safe and sustainable transition to a circular economy, events like these are vital for engaging and encouraging students into prospective careers and providing insight into the wider industry.

James concludes, “The team at MSP are excited about the energy transition, and how our bespoke springs and presswork will help to advance future technologies and help to transform the industry through our engineered solutions.”

“We are looking forward to supporting future projects within the energy industry, and becoming the partner of choice to all companies by consistently demonstrating industry-leading delivery, quality, and value, and continuing to build and maintain relationships with our customers and suppliers.”