English
DNV, a Norway-based independent expert in assurance and risk management, has released its annual Energy Transition Outlook. A plunge in renewable costs, a rise in carbon prices, and a steady shift to electrification will continue to drive the transition, according to the report. A lot must be done to reach net zero, however. Carbon emissions are still at record levels. They must fall by 8% per year to achieve net zero by 2050. This is an opportunity for new and existing players in energy to invest in green hydrogen, rewilding, and carbon capture and removal. If the world is to hold global warming to relatively safe levels, then global cooperation, billions of dollars, and big changes are needed urgently because the window to act is closing.
