S&P Global says rising EMDE energy demand challenges climate targets
S&P Global analysis flagged emerging markets as the main driver of energy demand growth, challenging more-ambitious climate targets.
Energy demand from EMDEs is projected to rise more than 60% by 2060, adding 155 EJ of primary demand; advanced economies and China are seen as flat.
The study judged 1.5°C pathways implausible; global net-zero before 2100 is unlikely; 2°C is possible only under the most aggressive decarbonization case.
Under that case, solar and wind capacity rises eight-fold globally by 2060, grids need $50 trillion of investment, and emissions fall 65%.
Fossil fuels remain embedded; even in the 2°C case, upstream oil and gas investment exceeds $11 trillion through 2060.
SPGI•
