NEW
YORK, March 13, 2024 /PRNewswire/ -- S&P
Global (NYSE: SPGI) today published the sixth edition of
its Look Forward research series, providing
in-depth analysis of the major geopolitical, technological,
financial and regulatory drivers that are shaping the direction and
pace of the multidimensional energy transition.
Developments over the last three years have shaken expectations
of a linear global transition as climate goals compete with
economic development, energy access, energy security and
affordability. This research, titled Look Forward:
Multidimensional Transition, explores expectations for a
multispeed, multifueled and multi-technology transition – with
different road maps and end points for different
countries.
"We are at a pivotal moment in the energy transition. Sweeping
financial investments have set the stage for a decade of
deployment," said Saugata Saha,
President, S&P Global Commodity Insights. "Thousands of new
projects and new technologies will enter the world's energy
ecosystem, from hydrogen to carbon capture and more. In addition,
artificial intelligence is transforming capabilities in data
processing and decision-making that will impact the energy
industry."
Key findings from Look Forward: Multidimensional
Transition include:
- Ensuring energy security is a high priority: events in recent
years have demonstrated that the energy transition depends on
energy security to proceed at a steady pace and at scale.
- Climate policies and investments in the Global North alone are
not sufficient to solve climate change issues worldwide - effective
solutions will need to engage the developing economies of the
Global South.
- Wars, polarization and political divides will challenge
governments and the private sector to secure energy supplies while
also navigating investments for energy transition.
- Electrification of the world's vehicle fleet is gaining
momentum, yet progress remains concentrated on select
markets.
- Gas in its various forms needs to be part of the environmental
policy toolkit - the immediate push of natural gas can help achieve
fast decarbonization by accelerating the phaseout of coal with
a proven alternative technology.
- At least 1,000 GW of new renewables capacity are needed
globally each year – or more than double today's levels – to meet
the COP28 pledge to triple renewables
capacity.
- Energy transition dynamics may incentivize, or even
require, companies to test and use AI to manage the increased
complexity created by more renewable generation in the energy
mix.
For more insights from Look Forward: Multidimensional
Transition (Volume 6 | March 2024), please
visit: https://www.spglobal.com/en/research-insights/featured/special-editorial/look-forward/look-forward-volume-3-2024
This is the sixth volume of the Look
Forward research series from the S&P Global Research
Council. For more information about S&P Global Research
Council, please
visit: https://www.spglobal.com/en/research-insights/featured/research-council
About S&P Global
S&P Global (NYSE: SPGI) provides essential
intelligence. We enable governments, businesses and individuals
with the right data, expertise and connected technology so that
they can make decisions with conviction. From helping our customers
assess new investments to guiding them through ESG and energy
transition across supply chains, we unlock new opportunities, solve
challenges and accelerate progress for the world.
We are widely sought after by many of the world's leading
organizations to provide credit ratings, benchmarks, analytics and
workflow solutions in the global capital, commodity and automotive
markets. With every one of our offerings, we help the world's
leading organizations plan for tomorrow, today.
Media Contact
Joanna Vickers
S&P Global Corporate Communications
Tel: +44 207 260 224
Joanna.vickers@spglobal.com
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SOURCE S&P Global