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If high interest rates persist, transitioning to a net zero global economy will be even harder and more costly. The higher cost of borrowing negatively affects renewables and nascent technologies, compared to more established oil and gas, and metals and mining sectors, which remain somewhat insulated.
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.
As companies in the energy and natural resource sector struggle to find the balance between satisfying shareholder returns and meeting stakeholder low-carbon demands, new strategies are emerging that could be the catalyst to drive capital allocation decisions toward growth and closing valuation gaps, according to “Fuelling Change” a new Horizons report from Wood Mackenzie.
The Chinese economy is expected to grow by 5.5% but could grow by as much as 7% in 2023 as the country bounces back from three years of lock-down caused by the Covid pandemic according to a new report by Wood Mackenzie.
Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).
Five key lessons from today's energy crisis on how to manage the shift to lower-carbon sources while strengthening energy security
China’s renewables manufacturing has emerged from 2021 bigger and more competitive than ever before. Western markets are benefitting from trading with the IKEA of the energy transition, but balancing reliance on China’s technology providers with local interests is now a key political as well as environmental challenge, says Wood Mackenzie.
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.
Following the conclusion of the COP26 on November 13, Wood Mackenzie experts weigh in on the key developments of the conference.
Last week, Japan’s Ministry of Economy, Trade and Industry (METI) released a draft of its upcoming 6th Strategic Energy Plan which included major changes to the FY2030 power generation mix targets.
Europe is at the forefront of the shift to net zero, both in ambition, but also in terms of how to make rapid and deep decarbonisation a reality. The world needs to reduce carbon dioxide (CO2) emissions as quickly as possible. Not doing so means we will need to turn to expensive and unproven technologies to withdraw CO2 from the atmosphere later this century.
The EU Commission proposed a carbon border adjustment mechanism (CBAM) as part of today’s “Fit for 55” package. James Whiteside, global head of multi-commodity research at Wood Mackenzie, said: “As the first mechanism of its kind, the CBAM is being designed in consultation with industry to avoid unintended consequences. “A CBAM that does not cover a substantial portion of the production chain will encourage carbon leakage - pushing emissions beyond the borders of the EU or shifting competition between EU and non-EU producers to the next stage of the value chain.”
Indonesia heads to the polls on 17 April 2019. Wood Mackenzie and sister company Verisk Maplecroft discuss what this means for the energy, and mining and metals sectors.
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