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Energy Transition Outlook – How Can We Achieve the Climate Targets?

The energy crisis in Europe is also having an impact on the energy transition. While this is progressing, high food and energy prices are distracting from climate targets in many places, and in some cases even the switch from coal to gas is being reversed.

According to DNV, overall we are far from the Paris Agreement and heading for 2.2 degrees of warming in 2100. The latest edition of the Energy Transition Outlook, recently launched by DNV, analyzed the energy transition up to 2050 and provides recommendations on how the world can meet climate targets. Where is the journey headed? Ditlev Engel, CEO Energy Systems at DNV, tells us.

Timeline:

  • 02.29: Will rising energy prices and the current prevailing energy crisis dampen investments in clean energy?
  • 05.04: Can Europe maintain its leadership role in the global energy transition despite some setbacks, such as the replacement of nearly ten percent of Russian gas with coal?
  • 7.50: Gas consumption in Europe is declining significantly. Where are developments heading here, what share will gas make up of European energy consumption in 2050?
  • 13.11: What are the effects of the current inflation and the interrupted supply chains? To what extent are the challenges affecting the renewable sector?
  • 25.22: The IPCC and COP26 called for urgent measures to reduce CO2 emissions. What do these measures look like in concrete terms?

 

Published: January 19, 2023

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About DNV & Ditlev Engel

DNV, based in Bærum, is an international classification society and service provider in the fields of technical consultancy, engineering services, certification and risk management.

Ditlev Engel is the CEO of the business area Energy Systems at DNV and member of the DNV Executive Committee. He leads a team of 4,000 energy experts to help customers navigate the complex transition to a sustainable decarbonized energy future.

Prior to his role at DNV, Ditlev was the Group President & CEO of global wind turbine manufacturer Vestas Wind Systems A/S between 2005 and 2013. Before this he spent 20 years at global coatings manufacturer Hempel A/S, where he was Group President and CEO between 2000 to 2005.

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