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Economic growth, stability in energy prices, energy transition, dual-control targets and relations with the US, are the top five themes to watch out for in China’s energy outlook this year, says Wood Mackenzie.
A five-year delay to the energy transition could see the global average temperature rise to 3°C above pre-industrial levels.
As Biden’s inauguration approaches, Wood Mackenzie experts share how his administration could impact trade, climate change goals, and changes to the energy sector in Asia Pacific.
Home to half of the world’s population and contributing a third to the global GDP, the Asia Pacific region is expected to maintain a 50% share of global primary energy demand and a 60% share of global carbon emissions until 2050. This trend is unlikely to change without strong policy action and investment. However, the region still has the potential to turn these challenges into opportunities and become a global leader in the energy transition.
How can India attain its net zero emissions goal by 2070, in line with global pledges to reach net zero emissions by mid-century? Wood Mackenzie analyses the scenario in its latest report ‘India energy transition pathways 2070’, concluding that the country must radically transform its energy landscape and prioritise renewable energy, electrification, hydrogen adoption, and carbon removal strategies.
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