bp’s Energy Outlook 2023 emphasises that the disruptions to Russian energy supplies seem likely to have a lasting impact on the energy system. Its report focuses on three main scenarios, which it describes as Accelerated, Net Zero and New Momentum.
Accelerated and Net Zero explore how different elements of the energy system might change in order to achieve a substantial reduction in carbon emissions.
In that sense, they can be viewed as ‘what if’ scenarios: what elements of the energy system might need to change if the world collectively takes action for CO2-equivalent emissions (CO2e) to fall by around 75% by 2050 (relative to 2019 levels) in Accelerated and 95% in Net Zero.
Both scenarios are conditioned on the assumption that there is a significant tightening in climate policies.
New Momentum is designed to capture the broad trajectory along which...