AM-17-81 Global Low Carbon Fuels & Vehicles Developments: What’s in Store for the Industry?

Description:

Despite a prolonged period of low crude oil prices, it appears citizens and policymakers in many countries have never been more serious or committed to combating climate change in all sectors, including transport. Transport currently contributes 23% of energy-related GHG emissions and 20% of energy use and is expected to double by 2030, according to IEA. Passenger transport1 accounts for nearly 60% of total transport energy demand, and 60% of this is in OECD member countries. Decarbonizing transport is a major challenge with some advocates calling for a single solution (electrification). The reality is that multiple strategies will be required to even attempt to achieve this with the understanding that fossil fuel demand will remain in place for some time.