Green Truths

In a few weeks from now the COP28 or the Conference of Parties, the global body guiding the world’s fight against climate change, will convene in Dubai. The backdrop is inclement given the turn of geopolitics and the ongoing energy shock, combined with worsening climate change. The World Energy Outlook (WEO) released by the International Energy Agency (IEA) a few weeks ago provides the perfect context to weigh the options before world leaders. It flags some very interesting trends. For one, it argues that fossil fuel consumption is about to peak. Second, a slowing Chinese economy will decrease global emissions. Third, there is an urgent need to underwrite green transitions in the resource strapped global South—the next big source of energy demand as their economies play catch up with developed majors. How does all this stack up? To understand this and more we spoke to Siddharth Singh, Energy Investment Analyst, Office of the Chief Energy Economist, IEA and a co-author of the WEO.