More than a year has passed since the world was ushered into a global energy crisis. Market conditions have evolved in the interim, but just when it looks as though we’re reverting to a more normalized situation, new challenges emerge. Inflationary pressure, turbulence in financial markets, fears of a mild global recession, OPEC+ slashing oil supplies, to mention but a few.

The current debate is frequently colored by shorter-term issues that can be viewed as major setbacks for the energy transition. So far in 2023, we have seen an uptick in coal demand, cost inflation for solar and wind projects awaiting final investment decisions, and the closure of nuclear power plants in Germany, driven by politics and policy.

Rystad Energy believes the long-term sentiment surrounding these issues is more pessimistic than what is warranted. Our rigorous analysis gives us sufficient evidence to believe that 1.5 degrees is still within reach. With carbon dioxide reduction, global warming can be reduced to between 1.6 and 1.7 degrees, while the addition of methane reduction to the equation can take us all the way down to 1.5 degrees. For every decimal degree of global warming, we can identify the speed of adoption needed in terms of annual installment of solar PV, wind capacity, electric vehicles, batteries, CCUS capacity and other factors. Matching these figures with the supply chain capacities to meet demand will help us to provide more precise estimates of global warming.

This is exactly what we aim to do during our Energy Transition Marathon. Included in this is a detailed assessment of how the Inflation Reduction Act (US) and the Green Deal Industrial Plan (EU) are impacting decision-making in the US and Europe to stimulate the supply chain’s ability to deliver.  We will also showcase the key emission-reduction policies that can open the proverbial door for hard-to-abate sectors like aviation, shipping, cement, steel and chemicals. 

Please join us on May 9th for the 2023 edition of our annual digital Energy Transition Marathon to better understand the opportunities and challenges that lie ahead on the path towards a more sustainable planet. Under the theme “Time for precision on global warming – evidence for 1.5 degrees”, we will discuss various aspects of the energy transition in detailed conversations with thought leaders from industry, academia and government.

Please connect for selected sessions or the full nine-hour, live digital program.