This week’s World Energy Outlook 2017 report from the International Energy Agency tells the story of an energy industry on the brink of a seismic shift, as it struggles to deal with the twin pressures of decarbonization and rising energy demand.
From a shift in the geopolitical center of the global energy market to the predicted trajectory of individual technologies, here’s your need-to-know guide to this bumper report. All figures are based on the IEA’s base case New Policies Scenario, unless otherwise stated.
1. Carbon emissions from energy are set to keep rising
The world remains way off course for avoiding severe impacts from climate change, according to the IEA’s base case scenario, which predicts global energy-related carbon emissions will increase by 5 percent by 2040. The rise is mainly attributed to an expected increase in emissions from oil use and a 20 percent climb in industrial emissions, likely to offset falling emissions from the power sector.
The glimmer of hope is that this actually represents a positive revision of 600 million tonnes compared to the IEA’s forecast in last year’s report. However, it still acts as a stark warning that the battle for decarbonizing energy is far from won. Read More…
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