Key Takeaways From Annual Meeting 2025: How To Make Progress at Scale
This story first appeared on Baker Hughes’ Energy Forward Stories.
Earlier this month, Baker Hughes hosted its Annual Meeting 2025.
Baker Hughes Chairman and CEO, Lorenzo Simonelli welcomed a record 2,300 customers and partners from 85 countries to Florence, Italy.
This event, now in its 25th edition, continues to welcome more delegates from the energy sector and beyond. Annual Meeting 2025 hosted guests from industrial sectors such as mining and minerals, marine, aviation and utilities.
The Scale of Global Energy Challenges and Opportunities
As a cohort, participants took stock of today’s scale of the global energy challenges and opportunities.
Demand for energy – including hydrocarbons – is continuing to rise. For example, there are estimates that US utilities will have to boost annual energy generation by up to 26% by 2028 due to technology development and infrastructure requirements.
Ongoing conflicts and geopolitical tensions have resulted in concerns about global energy security strategies, as well as increased scrutiny of some countries’ dependence on hydrocarbons. A rise of nationalism and economic protectionism around the globe is exposing vulnerability in supply chains and trading relationships. Public policy continues to be fragmented across countries and regions. As an example, as of 2024, there are 75 carbon-pricing instruments in operation worldwide, covering 24% of global emissions.
With high energy prices, funding the energy transition and the effects of climate change is a very “hot” topic. In 2024, the IMF cited per capita income in India and sub-Saharan Africa at approximately $2,900 and $1,800 respectively. This contrasts with circa $63,000 in North America and $51,000 in Western Europe. The Global South is shouldering the decarbonization burden, without the economic capacity. Additionally, according to the McKinsey Global Institute, the capital spending needed on physical assets to reach a net-zero transition is estimated at $275 trillion over the next 30 years.
And in 2024, the world population witnessed climate change and extreme weather events. It was the hottest year on record and the first year to breach 1.5C above the average pre-industrial levels.
Pathway to Sustainable Energy Development
The solution to these challenges is Sustainable Energy Development. The world needs energy today without adversely impacting abundance and availability tomorrow. While protecting the planet for future generations.
But how to do this?
- Enable hydrocarbons to meet today’s demands while also making them cleaner and more efficient.
- Expand energy sources, tapping into every source of energy – natural gas, nuclear, renewables – including geothermal, solar and wind.
- Use energy responsibly – ensuring infrastructure is efficient, ensuring recycle and reuse as much as possible, ensuring all act responsibly for people and the planet.
This industry’s actions must be nimble, efficient, and scalable across the entire energy ecosystem.
To make progress at scale in 2025, conversations on the main stage, in the Solutions Fair and the side sessions at the event focused on how to:
- Replicate and scale technology innovation that focuses on all sources of energy.
- Build and integrate solutions with digital as a common language.
- Establish and leverage partnerships that expand across industries, companies, governments, and NGOs, which support scaling solutions for customers. Partnerships must also enable to localize and scale how to build solutions.
Progress @ Scale Beyond the Energy Sector
Replicating progress at scale from one industry to another is not about reinventing the wheel. The mining, steel, cement, and data center sectors were also examined during the Annual Meeting. As energy access expands to power these critical sectors, low-carbon options and emissions reduction must be prioritized.
Check out this Energy Forward story, highlighting five technology trends to increase efficiency and sustainability in mining.
Discussions on the main stage
Panel discussions on the main stage are available here. They considered how to make progress at scale a reality across industries.
The panel discussion on Day 1, Decarbonization at Scale: Pathways to Net-Zero in the Energy Sector, explored how achieving net-zero in the energy sector represents one of the most transformative opportunities at present. Success will require bold innovation, cross-sector collaboration, and scalable strategies that address the complexities of decarbonization and drive meaningful change across the entire industry.
The role of economic research in driving progress at scale in the energy sector was addressed with Billy Pizer, president & CEO of Resources for the Future.
And Danny Rice, chief executive officer of NET Power explains what “Progress at Scale” means to him when deploying efficient gas technology across the energy sector.
The world of energy is evolving, with new demands on producers and users to achieve sustainable energy development.
A holistic approach is essential to meet the world’s energy needs in a secure, efficient and affordable manner while minimizing environmental impacts.
The energy industry must continue to push the boundaries of what is possible, harnessing the power of technology, sustainability, and innovation to create a better world for generations to come.
Progress at Scale is not just about doing more – it is about doing more better, transforming innovation into impact that powers the world sustainably and securely.
This is progress at scale.
