Thursday
October 15
2020

World Energy Outlook 2020 Examines Pathways Out of the Pandemic Crisis

The International Energy Agency’s World Energy Outlook (WEO) 2020 focuses on the next ten years, exploring different pathways out of the crisis caused by the COVID-19 pandemic.

Global energy demand is set to drop by 5% in 2020, energy-related CO2 emissions by 7%, and energy investment by 18%. WEO-2020 presents four possible pathways:

  • The Stated Policies Scenario (STEPS), in which COVID-19 is gradually brought under control in 2021 and the global economy returns to pre-crisis levels the same year. This scenario reflects current policy intentions and targets.
  • The Delayed Recovery Scenario (DRS), which is designed with the same policy assumptions as in the STEPS, but assumes a prolonged pandemic causing lasting damage to economic prospects. The global economy returns to its pre-crisis size in 2023 followed by a decade with the lowest rate of energy demand growth since the 1930s.

Photo courtesy of Usukhbayar Gankhuyag

Source: Nuclear Engineering International (link opens in a new window)

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Coronavirus, Energy, Investing, Technology
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coronavirus, fossil fuels, impact investing, innovation, solar energy, Sustainable Development