Phillips 66’s Post

Investment in clean energy technologies is significantly outpacing spending on fossil fuels, as reported by the International Energy Agency (IEA) in their 2023 World Energy Investment report, showing strengthening momentum behind sustainable options such as #hydrogen. https://bit.ly/3Lf6ys9

The major issues around the transformation of the European & global energy sector in 2024: https://lnkd.in/euX3ZMnJ

The Energy & Natural Resources Report 2023 from Bain & Company is now out! According to the report and it's executive survey, the energy transition, while facing scaling and coordination challenges, is full of once in a lifetime opportunities that are transforming growth and decarbonization decisions of companies https://lnkd.in/eyCsb4na

$12 trillion has been spent on renewables worldwide. Still only 45 exajoules of power from 1997 to 2022. In 2023, it was 6.48 exajoules of power. The world needs 700 exajoules of power, so this is less than 1% of world electricity needs. Until renewables (solar and wind) can produce 300 Exajoules of energy annually, their contribution to world electricity needs is insignificant.

1st Latin America Energy Outlook has been released by the IEA. The report highlights Latin America role in the global energy transition due to its renewable energy potential, abundant natural resources, and its potential to contribute to the shift towards a more sustainable future.

Why is flexible capital pivotal to financing the green energy transition? Don Dimitrievich, Portfolio Manager for Energy #Infrastructure #Credit at Nuveen, discusses how #privatecapital is playing a part in the shift to renewables with CNBC Asia.

Population and economic growth are key drivers of energy consumption in LAC, with the population expected to reach 750 million by 2050. As GDP accelerates due to service sector growth and re-industrialization, energy demands are on the rise.