Global Energy Pathways in the Age of Abundance

The demand for energy is reaching new highs with record demand for all primary energy sources. Power demand for data centers has been a new driver for this growth in demand. Governments in many developing economies are faced with the challenge of providing affordable energy to their growing populations with increasing living standards and economic growth expectations. At the same time, the issues of energy security and affordability have risen to the top of government priorities and there has been a monumental change in the policies to support energy transition. Yet, against this political and economic backdrop, global warming continues apace with increasingly visible impacts. Today, there is an urgent need for realistic long-term energy and emissions pathways, which recognize and evaluate the necessary trade-offs and provide the tools necessary for governments to design enduring policies and for companies to make sound investment decisions. Have existing tools underestimated demand in emerging and developing economies? Is there too much focus on supply and not enough on demand management? What should be the core principles for realistic and equitable pathways? Is Paris alignment to limit temperature rise below 2°C a necessary requirement?