The world's energy system is 'no longer fit for purpose,' says energy council chief
CNBC Key Points
- The council's most recent report forecasts that around half of the global energy system will still not be electrified by 2050, which would mark a blow to many governments' net-zero pledges.
- Following the onset of the Covid-19 pandemic, global energy markets have also been impacted by a series of setbacks.
- Forty-six countries are pricing emissions by means of carbon taxes or other emissions trading programs, according to data last year from the International Monetary Fund.
Wind power generation and shoal aquaculture are seen at a demonstration base of coastal shoal industry in Yancheng City, East China's Jiangsu province, May 16, 2023. (Photo credit should read Lu Hongjie / CFOTO/Future Publishing via Getty Images)
Lu Hongjie | Future Publishing | Getty Images
The world's energy system is no longer "fit for purpose," according to World Energy Council CEO Angela Wilkinson, who alluded to lackluster momentum toward a planned green energy transition.
"The most recent pulse from April shows that the world energy system is no longer fit for purpose," Wilkinson told CNBC's "Squawk Box Asia" Wednesday, in reference to the findings from her organization's Energy Pulse reports which offer snapshots of trends across the energy ecosystem.
