DNV says deep decarbonization still 15 years away

In the UK, deep decarbonization of the world’s energy system is still 15 years away, with carbon emissions set to remain stubbornly high until the mid-2030s, according to a new forecast of the energy transition by DNV GL.

Decarbonized and green gasses could have a bright future following the transformation, enabled by hydrogen and CCS complementing increased use of renewable electricity, battery technology and alternative low-carbon fuels such as ammonia to provide societies with a secure, affordable supply of clean energy.

Public energy policies are key, not just in setting out the path for the world and the oil and gas industry to decarbonize, but also in deciding how quickly it heads down that path. DNV GL points to policies in Europe, China and North America that will create the impetus for scaling hydrogen and other low-carbon fuels, and propel recognition that scaling CCS will be essential to meet climate targets.