TotalEnergies published its Energy Outlook 2023, finding that with decisive actions, such as phasing out coal, investing in clean energy, and supporting the Global South through financial and technological aid, are crucial in addressing the challenges of increased CO2 emissions, promoting energy efficiency, and ensuring a just and socially acceptable low-carbon future.
Published for the fifth year running, the TotalEnergies Energy Outlook 2023 updates the Momentum and Rupture scenarios for the global energy system up to 2050 developed by TotalEnergies. This year, it compares them with a Current Course & Speed scenario to better assess the impact of the various decarbonization levers that will enable the energy transition to be completed by 2050.
Our collective challenge is to move away from the ‘Current Course & Speed’ scenario, without compromising growth in emerging countries and in a way that is acceptable to people in more advanced countries.
..said Helle Kristoffersen, President Strategy & Sustainability.
According to the report, the Current Course & Speed scenario, which continues current trends in the transformation of the energy system, results in a temperature increase of more than 3°C degrees by 2100 and is therefore unsustainable. It extends the energy efficiency gains observed over the average of the last 5 years, i.e., 2.0%/y compared with 1.4%/y over the last 20 years, but this is not enough to enable NZ50 countries and China to achieve their 2050/2060 targets. World investments in low-carbon energies are not sufficient to be deployed in Global South.