- Energy sector must lead the change by rapidly decarbonizing and increasing its capacity
- To reach net zero and limit warming to 1.5 degrees, the global energy sector needs to halve emissions this decade
- €6 trillion – approximately 7% of global GDP – in investments will be required to realize this ambitious transition
- Investments would lead to net benefits to society and the economy
- Average consumer energy bills will drop if transition is done right
Strong and sustained reductions in CO2-emissions and other greenhouse gases are key to limiting climate change, as was confirmed in the report by the
This new report uses economic modeling to simulate the conditions necessary for the global energy sector to rapidly shift from fossil fuels to renewable power generation. It focuses on how ten key markets would need to contribute to a global energy transition, drawing out takeaways that can support in guiding the transition to renewable energy and decarbonize with a heightened sense of urgency. “The energy sector holds the key that can unlock the solutions we need to tackle climate change”, the report says. It confirms that now is the time to act.
Supercharging Net Zero addresses important implications of transitioning to a net zero world in time to contain global warming to within 1.5 degrees. All countries in this report would need to halve energy sector emissions by 2029, most of them within the next four years. At the same time, the global energy sector would need to dramatically expand its electricity generation capacity to meet growing demand. Approximately €6 trillion of investments are needed to realize this, for example in renewable energy technology and grid expansion. The world needs to invest more – and faster – than it is currently. All these investments would lead to net benefits to society and the economy. If done right, the energy transition could bring down the cost of electricity and free up billions of euros in disposable income.
About the study
Supercharging Net Zero investigates how the global energy sector – with a spotlight on ten key markets – would need to transition over the short, medium and long term to limit global warming to 1.5 degrees Celsius. The study utilizes a dynamic, computer-based macroeconomic model of the world’s economic and energy systems (the E3ME model), highlighting data from ten markets (
For more information about Supercharging Net Zero and the report download, please visit: https://www.arcadis.com/energytransition
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Arcadis energy transition report radical transformation of energy sector needed to reach net zero in time to prevent major global warming threshold
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