The growing energy transition trend has garnered a lot of attention—and capital—as the global push for decarbonization increases in recent years.

However, it has become clear that the widely used term has come to mean different things to different people, which is the crux to many of the challenges arising from the transition, according to Thomas J. McNulty, ValueScope principal and head of its energy practice.

“Regardless of where you stand on the climate issue, the transition has to happen in such a way that it works physically,” McNulty said during the latest episode of Energy Policy Watch.