On one hand, 2024 is likely to be the year of global peak energy emissions. “It is a historic moment,” cheers the World Economic Forum (WEF) in this year’s edition of DNV’s Energy Transition Outlook.
On the other hand, we have so much more work to do before we can glimpse the finish line of Paris Climate Agreement targets. By 2050, global CO2 emissions will be halved from current levels, but this trajectory fails to reach net zero in 2050 and is commensurate with a consequential anticipated warming of 2.2°C by the end of the century. The DNV publication argues that “the transition towards a sustainable energy future remains alarmingly slow. In other words, the energy transition is on the right track — but it is traveling at the wrong speed.” READ FULL ARTICLE