France-based TotalEnergies has published its Energy Outlook report for 2023.
This is the fifth version of its annual report that forecasts the evolving energy demand, and models various scenarios for how the world could meet this in the context of climate change.
The report splits the world into three basic groups: the forty, mainly OECD (Organisation for Economic Co-operation and Development), NZ50 (Net-Zero 50) countries that have pledged to reach net-zero by 2050; the Global South; and China. It predicts that energy demand will grow by 70% in the Global South due to population growth and rising living standards.
It is projected to remain steady in China, and drop by a fifth in the NZ50 regions.
TotalEnergies, which makes the Total coolant and lubricant range, proposes three scenarios for meeting this increased energy demand.
The Current Course & Speed scenario extends the recent historical trends, but this results in an “unsustainable” 3°C rise in global temperate by 2100.
The Momentum scenario builds on this by taking a more proactive approach in various areas, with this resulting in a rise of 2.1–2.2°C by 2100.
Finally, the Rupture scenario suggests the steps necessary to achieve a temperature rise below 2°C.
TotalEnergies’ President for Strategy & Sustainability, Helle Kristoffersen, said about the report:
“Our collective challenge is to move away from the ‘Current Course & Speed’ scenario, without compromising growth in emerging countries and in a way that is acceptable to people in more advanced countries. With this document, TotalEnergies intends to share its knowledge of the global energy system.”
TotalEnergies has committed to becoming a net-zero business by 2050.