With projections of a record decline in global energy demand and emissions this year due to the COVID-19 pandemic, this week’s dashboard examines trends in the global energy market, historic data on emissions during global recessions and the status of the turn to renewable energy sources. The pandemic is impacting energy demand, use and policies that could have implications for future emissions and consumption trends.
Why this Matters: The changing energy landscape will have an impact on companies’ operations and supply chains, as certain events like the pandemic coupled with government-driven regulations force businesses and consumers to adapt to new sources of energy. The pandemic is pushing some countries like the European Union to opt for “green” recovery plans that could increase the turn to renewables, while others like the US, China and India are opting for environmental rollbacks that could disrupt efforts to phase out fossil fuels and higher emitting energy sources like coal. The uneven regulatory landscape could complicate the operations of key industries like energy, manufacturing and transportation around the world. Policy shifts could also drive new waves of activism targeting governments, corporations and other stakeholders to demand new policies to address climate change.
The following dashboard features recent and historical trends that will help to understand the future of the global energy market and implications for businesses around the world. The dashboard includes sections on oil prices, historical data, market factors, forecast trends and risk factors.
(Situation Room™ Clients can find the full dashboard and analysis here.