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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.
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).
With prices soaring 400%, government is challenged to find the delicate balance of energy security and net zero goals
War in Ukraine is transforming the outlook for the supply, demand and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing and implementation of future bans on Russian commodity imports are difficult to predict, a rewriting of energy trade flows is now underway.
Global economic growth could slow to 2.5% year-on-year in 2022 and 0.7% in 2023 due to the Russia-Ukraine war, says Wood Mackenzie.
Following the 7.4-magnitude earthquake reported off Fukushima, Japan, Wood Mackenzie senior analyst Yamato Kawamata gives an overview of the impact on the power sector.
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.
The world has the means, motive and opportunity to cap global warming to the 1.5°C limit agreed in the Paris Climate Accord, new research released today by Wood Mackenzie, a Verisk company (Nasdaq: VRSK) shows. But there will be tangible economic implications of an accelerated energy transition. While global economic output is likely to take a hit until 2050, it could be recoverable by the end of the century, according to Wood Mackenzie.
China’s economy has faced headwinds from flooding, Covid outbreaks and power rationing in H2 2021. This resulted in a steeper-than-expected economic slowdown for the third quarter, 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.
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.”
Wood Mackenzie’s latest report shows most markets in Asia Pacific can expect to see cheaper levelised cost of electricity (LCOE) for renewables compared to coal by 2030.
On 22 September, China announced its ambition to be carbon-neutral by 2060. Wood Mackenzie experts weigh in on what this means.
Bangladesh is expected to double its fossil fuel imports to 32 million tonnes of oil equivalent (Mtoe) between 2020 and 2030, says Wood Mackenzie.
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this means for the power, coal, gas and LNG, and oil products sectors.
India's 2020 energy outlook
The EIB's new financing criteria will make lending to gas projects very difficult. It highlights that gas is also increasingly in the spotlight of the climate debate.
Japan is planning to invest an additional $10 billion to develop infrastructure mainly in new and developing markets in the India sub continent and Southeast Asia, reflecting a shift in priorities.
According to a new report by Wood Mackenzie, coal will continue to be the dominant fuel source in power generation, peaking at 2027 before slowing down and accounting for 36% of the region’s generation mix in 2040.
According to a new report by Wood Mackenzie, Japan could lose its pole position as the world’s top LNG importer to China as early as 2022.
Following PM Scott Morrison's win in the recent 2019 Australia election, Wood Mackenzie and Verisk Maplecroft analysts share their thoughts.
Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie's Asia Pacific experts weigh in on what this means for the different sectors.
Australia's general election is around the corner and Labor looks set for victory. Labor has announced its commitment to reduce Australia’s carbon emissions by 45% between 2005 and 2030, and to reach net-zero pollution by 2050. It has also proposed changes to existing mechanisms to lower energy and gas prices.
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.
India's first east coast regas project, Ennore LNG terminal, was commissioned yesterday by Indian Oil Corporation (IOCL). Wood Mackenzie's senior analyst Kaushik Chatterjee shares the significance of this project and how this marks the beginning of India doubling its regas capacity to 56.5 million metric tonnes per annum (mmtpa) by 2025.
Is the Global Energy Transition on track? A new report by Wood Mackenzie, Thinking global energy transitions: the what, if, how and when, explores the forces shaping the energy transition, and pinpoints the sustainability tipping point – when the world shifts from the age of oil and gas to the age of power and renewables – will arrive by 2035.
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