In the race to net zero, the focus is often placed on energy supply. But with the world’s population set to grow by 2 billion by 2050 and GDP forecast to double, addressing the pace of energy demand, while also supporting economic output, will be vital.
In fact, according the Forum white paper Transforming Energy Demand, produced with PwC, acting on energy demand by 2030 could reduce energy intensity by more than 30% and deliver $2 trillion in savings a year.
The paper says that this is “doable, affordable and profitable”, and that all countries and companies can use existing levers to reduce energy intensity. It recommends a focus on three areas: energy savings, energy efficiency and value chain collaboration.
Companies and governments must work together to develop plans to address energy demand as an “essential next step”, it says.
Source:norvanreports.com