TotalEnergies releases latest energy outlook

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Integrated energy giant TotalEnergies has published the eighth rendition of its annual energy outlook.

TotalEnergies, which makes the Total metalworking and coolant products, publishes the report to provide an overview of the ongoing energy transition. Every year, it provides updated scenarios for how the global energy system may evolve over time.

The company points out the necessity of energy for human and economic development, highlighting how most of the world’s people still do not have access to sufficient energy. It says there is a growing demand for all fuel sources to meet the increasing need for energy. It points out, however, that despite the global economy growing at over 3% per annum, the growth in the use of fossil fuels is slowing down.

TotalEnergies’ president for sustainability and strategy, Aurélien Hamelle, said about the current situation:

“Developments since the Strait of Hormuz crisis underline the importance for governments to promote domestic energies, through power generation, notably from renewables, the electrification of demand, and biofuels, while investing in securing the fossil energy system through the diversification of supply sources and investment in storage and transport infrastructure.”

The report presents three scenarios called Trends, Momentum and Rupture, with different projected rises in global temperature. The first is based on current trends continuing without major changes and results in a 2.6-2.8°C rise by 2100. The Momentum scenario introduces more ambitious measures and reduces the projected rise to 2.3-2.4°C. The final Rupture scenario starts with the Paris Agreement target of limiting global warming to under 2°C and details the measures needed to achieve it.

The full report can be downloaded from the TotalEnergies website.

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