Rising economic nationalism in the U.S. and China is dominating news headlines and making waves across the global economy. Less appreciated is the threat it poses to the energy transition.
Already a dim prospect, the odds of keeping global warming to 2 degrees Celsius are getting darker as a result of the deepening trade war, according to Wood Mackenzie Power & Renewables. The consultancy’s latest Energy Transition Outlook (ETO) holds to 3 degrees Celsius of global warming as its baseline outcome.
Rapid and transformational change is in store for the global energy system over the next two decades, particularly in the electricity sector.