Transforming the energy sector to sustain growth

Energy is a fundamental input to economic activity however a major transformation is required in the way we produce, deliver and consume energy. The current energy system is largely dependent on fossil fuels, which negatively impact air quality, and contribute significantly to carbon emissions. Global demand for energy is rapidly increasing, arising from population and economic growth, especially in emerging market economies, which will account for 90% of energy demand growth to 2035. There is currently a window of opportunity to undertake transformational change in the energy supply sector to meet economic and environmental objectives, as there is a need to replace aging plants and add new capacity, especially in emerging economies, to meet growing electricity demand.