Platts Analytics’ top energy transition trends to watch

February 4, 2022

Events in 2021 exposed significant hurdles governments and markets still need to overcome during the energy transition journey, but there were also signs of progress. The rapid return of global energy demand to near or above pre-pandemic levels in 2021 caught markets off guard, which resulted in record-high energy prices in major markets. Despite the historic decline in CO2 emissions in 2020, 2021 showed that energy demand is still structurally outpacing the growth of clean energy supply, requiring the use of more fossil fuels, which means more greenhouse gas emissions. According to S&P Global Platts Analytics, 2022 will be a record year for CO2 emissions despite the COVID-19 pandemic and the world’s energy transition efforts.

Despite the rise in emissions, 2021 marked several instances of progress such as electric vehicle sales reaching a new record and a surge of announced hydrogen projects. However, 2022 will serve as a litmus test for environmental policy as politicians balance keeping energy prices in check without increasing fossil fuel demand all while setting the road to lower carbon economies. It will also be important to monitor if the momentum from 2021 carries into this year for electric vehicles and hydrogen, and how technological innovation evolves. Platts Analytics has identified five top trends to gauge the progress of the energy transition in 2022.

Read more here.

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