Global energy outlooks and Australia’s net zero energy future

Abstract

The release of the Sixth Assessment Report by the Intergovernmental Panel on Climate Change has escalated and issued a final warning that the world is in a climate emergency and on a trajectory to ecological collapse. The collective target for humanity remains keeping emissions within 1.5 degrees and this will require a monumental shift in attitudes and priorities by governments, industries and individuals. The International Energy Agency’s ‘Net Zero by 2050’ report sets out a roadmap to achieve Net Zero. Many other leading energy data sources, such as BP and DNV, have also now reflected ambitions to achieve the 1.5° target and what this means for energy supply and demand, especially for oil and gas. This paper will discuss energy demand future in the context of these energy outlooks, including the role that various energies are expected to play in the medium- to long-term and what impact does that have on Australia’s energy future.