welcome to world business report. i'm lukwesa burak. energy leaders are faced with multiple diverse challenges on the path to net zero. amongst them are ensuring energy security, affordability and delivering wider economic goals right around the world. in particular, global energy systems are showing signs of deficiencies and strains everywhere. these are the findings of the �*2024 world energy issues monitor', a major international survey by the �*world energy council'. i'm joined now by the secretary general and ceo of the world energy council, dr angela wilkinson. welcome to the programme. there are a number of key issues and then you

put in geopolitical aspects to this and climate change, it all sounds like a perfect storm. the and climate change, it all sounds like a perfect storm.— like a perfect storm. the energy transition is _ like a perfect storm. the energy transition is definitely _ like a perfect storm. the energy transition is definitely a - like a perfect storm. the energy transition is definitely a puzzle l transition is definitely a puzzle that has to be managed. there is no such thing as an easy or straightforward pathway to the future, it doesn't matter what you are doing. this year's world energy issues monitor shows across the board in all regions and segments, there is a growing sense of uncertainty, a growing concern about turbulence and the good news might be that we actually have to navigate rather than assume it is all going to happen. figs rather than assume it is all going to happen-— rather than assume it is all going tohauen. a , to happen. as you highlighted these bottlenecks and _ to happen. as you highlighted these bottlenecks and the _ to happen. as you highlighted these bottlenecks and the issues, - to happen. as you highlighted these bottlenecks and the issues, were i to happen. as you highlighted these l bottlenecks and the issues, were you able to come up with solutions at all? ., , , , , able to come up with solutions at all? ., , ,, , ., ., all? the world energy issues monitor it 'ust all? the world energy issues monitor it just takes — all? the world energy issues monitor it just takes the _ all? the world energy issues monitor it just takes the pulse _ all? the world energy issues monitor it just takes the pulse of _ all? the world energy issues monitor it just takes the pulse of where - itjust takes the pulse of where energy leaders are paying attention,

to action priorities and what is keeping them awake at night. this year it shows it is geopolitics, geopolitics, geopolitics. and what is keeping them busy during the day is keeping them busy during the day is a mix of three action priorities, there is no energy transition without transmission and is a big gap between the amount of investment going into renewable energy generation and the investment going into great extension and connecting that new energy sources to users. so transmission is a big action priority. so is stakeholder engagement. we cannot manage this orderly transition if we do not all get involved and there is a week engagement going on. and the third area of action is everybody agrees that climate change is a big concern in terms of energy transitions, but these priorities for climate

mitigation and adaptation and compensation vary significantly between regions. is it compensation vary significantly between regions.— compensation vary significantly between regions. is it that a lot of these energy _ between regions. is it that a lot of these energy leaders _ between regions. is it that a lot of these energy leaders don't - between regions. is it that a lot of these energy leaders don't really. these energy leaders don't really want to face the bill that this entails? ~ . w , entails? we all face the bill, whatever— entails? we all face the bill, whatever system _ entails? we all face the bill, whatever system we - entails? we all face the bill, j whatever system we operate entails? we all face the bill, i whatever system we operate in entails? we all face the bill, - whatever system we operate in is the general public pay for everything, businesses will pass on costs, they have to make investments. i wouldn't focus so much... there is no shortage of technology or money, it is attracting the money to energy transitions, so that is about capital markets and whether they are incentivised to put investment into energy systems, it is about enabling the investment in infrastructure, but most of all it is about engaging society so they think there is a huge benefit for them from this energy transition, rather than just a cost and a bill to foot. i5

energy transition, rather than 'ust a cost and a bill to footfi a cost and a bill to foot. is there any region. _ a cost and a bill to foot. is there any region. i _ a cost and a bill to foot. is there any region, i know _ a cost and a bill to foot. is there any region, i know we _ a cost and a bill to foot. is there| any region, i know we mentioned geopolitical issues quite a lot, is there any region that is of most concern from the energy readers that you spoke to? i concern from the energy readers that you spoke to?— you spoke to? i think regional perspeetives _ you spoke to? i think regional perspectives and _ you spoke to? i think regional perspectives and priorities - you spoke to? i think regional l perspectives and priorities vary. you spoke to? i think regional - perspectives and priorities vary. we have to talk in terms of plural global energy transitions, for some regions they are trying to transition to access to modern energy supplies. in some other regions they are trying to transition away from fossil fuels and to make the energy systems more efficient. if you are in africa, big concerns are around the connections between food, water and energy systems. if you go into the middle east, you will find big concerns about how do they get into pole position around the hydrogen economy, and if you go to north america, big concerns really are about the distress and state of repair of electricity grids and the need for a significant investment in

improving the electricity systems across north america. that improving the electricity systems across north america.— improving the electricity systems across north america. that was a lovely picture _ across north america. that was a lovely picture you _ across north america. that was a lovely picture you paint _ across north america. that was a lovely picture you paint it - across north america. that was a lovely picture you paint it for- across north america. that was a lovely picture you paint it for us. | lovely picture you paint it for us. you also mentioned stakeholder engagement. what is the issue you came across when it came to, as you described it, the issue was bottom—up engagement. what was the problem there? bottom-up engagement. what was the problem there?— problem there? energy transitions, all action is — problem there? energy transitions, all action is local, _ problem there? energy transitions, all action is local, so _ problem there? energy transitions, all action is local, so people - problem there? energy transitions, all action is local, so people do - problem there? energy transitions, all action is local, so people do in l all action is local, so people do in cities, notjust what people do in value chains and supply chains, very popular language everywhere, but do we do? do we understand other rules and choices? do we understand the costs and benefits? what is affordable, notjust what is the price of new technology. more people need to be engaged in what understanding —— understanding what energy transition means with them in terms of the everyday life choices. energy transition play such an important role in our lives but it is visible. we don't know what options and choices we face. also

people telling us where we need to go. we need to work out how to get there, and we cannot work out how to get there without someone telling us. we have to do it for ourselves. hopefully we will be speaking to you once we get some of those answers. it has been a pleasure, thank you. the walt disney company's boardroom battle with billionaire shareholder, nelson peltz, is coming to a head this week. disney will shortly announce the results of a shareholder ballot to determine the makeup of its board of directors. the company has urged shareholders to support its own slate of nominess. that doesn't include nelson peltz or a second nominee that his own company is also backing. let's get more now from michelle fleury who's covering this from new york. a bit ofa a bit of a battle. take us through the background to this. at a bit of a battle. take us through the background to this.— the background to this. at its heart, this — the background to this. at its heart, this is _ the background to this. at its heart, this is the _ the background to this. at its

heart, this is the biggest - the background to this. git its heart, this is the biggest challenge we have seen any long time for the mouse house the coming out swinging to fight it. at its core this is about how much the share price is for disney, in other words it is not high enough in the view of some of these activist shareholders who are trying to challenge the board at disney and bring in their own slate of directors. there are two reasons for this, succession and streaming. succession because bob iger, the current ceo, returned to the company after a disastrous term by his successor. since his return, his contract has been extended again and there is still no plan for succession going forward. the second thing is streaming, if you look at what nelson peltz and his company are saying, they are saying disney was late to the streaming game and it has lost opportunity. we look at netflix, its share price now values

the company at five times that of disney and it doesn't own things like the parks and the giant global footprint of the intellectual property that disney has, and that is what you are seeing this frustration spilled over into the public. how is this likely to play out for bob iger? as of last night, it looks like they secured a large chunk of institutional big shareholder support, but 40% of the company stake is held by small shareholders. we will find out in a couple of hours' time what the results are. thank you very much. this is the world business report. the head of the un 5 intellectual property agency says there's no appetite for global regulations governing artificial intelligence or ai — not yet at least. new figures show ai is behind a growing number of patent applications received

by the world intellectual property organisation — or wipo — but the overall number of applications fell last year for the first time in ia years. so are difficulties in the global economy getting in the way of innovation? our reporterjonathanjosephs spoke to wipo's director—general, daren tang. i think what we are seeing, there has been a difficult situation economically. interest rates have gone up, money supply has dried up and as a result venture capital flow has reduced considerably. this means that it may be resulting in a reduction of oxygen to the innovation and what we need to do is encourage policymakers to look at this and to make sure that when people are innovative, they bring

the best ideas to the market. luntimely the best ideas to the market. when central banks _ the best ideas to the market. when central banks are _ the best ideas to the market. when central banks are thinking - the best ideas to the market. when central banks are thinking about the cost of borrowing, either thinking sufficiently about innovation and the perhaps chilling effect of the high cost of borrowing can have on innovation?— high cost of borrowing can have on innovation? ., , ., , , ., innovation? there are probably two wa s to innovation? there are probably two ways to look _ innovation? there are probably two ways to look at. — innovation? there are probably two ways to look at, but _ innovation? there are probably two ways to look at, but in _ innovation? there are probably two ways to look at, but in these - ways to look at, but in these moments of a downturn, there is a focus on quality. that might not necessarily be a bad thing for innovation ecosystems around the world. when the cycle turns up again there will be game changing technologies that come into the market, just like after the financial crisis in 2010. when we look at innovation _ financial crisis in 2010. when we look at innovation in _ financial crisis in 2010. when we look at innovation in the - financial crisis in 2010. when we look at innovation in the global. look at innovation in the global economy at the moment, a lot of the talk is about artificial intelligence. what are the trends you are seeing? our company is actually coming up with ways to use this emerging technology? digital technolo: this emerging technology? digital technology is _ this emerging technology? digital technology is growing _ this emerging technology? digital technology is growing 70% - this emerging technology? d ; ital technology is growing 70% faster than other technology. and within that, ai patenting technology is growing at 700%. 20% of that is generated ai patting. we are

certainly seeing the ip data that a lot of the growth is coming from al and generative ai. we are beginning to see some of these applications, we know there has been in al, millions of new materials created, crystals that can be used for all kinds of applications. these are early days yet and i think what i like to say about ais if any new technology —— with al is with any new technology, with public overestimate its impact in the short term, but underestimate its impact in the long term. in other news.... in the uk, royal mail wants to keep its current 6—day delivery of first class letters between monday and saturday, under new proposals set out as part of a reform package. parent company, �*international distribution services', is under pressure to cut costs and has suggested second class letters should be delivered every other weekday. the government has previously opposed reducing the service. inflation in europe fell

to 2.4 percent in march, according to the latest figures. that's lower than expected. the drop has been led by smaller increases in food and goods prices. the news will be welcomed by the eurozone's central bank, the ecb, which meets next week to discuss if and when it'll loosen monetary policy. experts predict a long—awaited interest rate cut may come as early asjune. that is your business news, see you later.

hello from the bbc sport centre. luis rubiales, the former president of the spanish football federation, has been arrested as part of a corruption investigation. he was detained on his arrival in madrid from the dominican republic.

he is suspected of receiving illegal commissions when negotiating a lucrative deal to stage the spanish super cup competition in saudi arabia. prosecutors are seeking a two—and—a—half—yearjail term for mr rubiales, who denies any wrongdoing. separately, he's also due to go on trial for sexual assault for kissing playerjenni hermoso on the mouth after last summer's world cup final. to the premier league, where there are three fixtures on wednesday which will have an impact on both the title race and the relegation battle. 18th placed luton travel to arsenal in second, brentford host brighton while third—placed manchester city host aston villa in fourth. manager pep guardiola has backed striker erling haaland after the norwegian was critiscised following their 0—0 draw with arsenal. he is the best striker in the world, and he helped us to win last season.

and the reason why we don't