The fallout of the Covid-19 pandemic is set to significantly reduce global long-term energy demand, according to new research by DNV GL. The energy risk management firm’s new Energy Transition Outlook claims the behavioural and economic ramifications of the virus will see a decline in demand of 8% worldwide. It also forecasts that CO2 emissions have “likely” already peaked in 2019 as a result of the outbreak. But the report adds that the energy transition is still “nowhere near fast enough” to meet the Paris agreement of net-zero emissions by 2050. Remi Eriksen, group president and chief executive of DNV GL, said: “We are still at a critical junction.
Energy Voice 1st July 2020 read more »