World Energy Outlook 2023

• According to the World Energy Outlook 2023, demand for fossil fuels will reach its peak by 2030.

• Under current policies of governments, global emissions are on track to raise temperatures by 2.4 degrees Celsius.

• Demand for oil and natural gas will reach its peak before 2030. The rise of electric vehicles (EVs) is contributing to the transition away from fossil fuels.

• Demand for liquefied natural gas (LNG) in 2050 will be 15 percent less than previously estimated.

• Currently, investments in clean energy and infrastructure amount to about $1.8 trillion, compared to $1 trillion in fossil fuels.

• The International Energy Agency recommended maintaining current investments in fossil fuels in all scenarios to meet current demand and prevent sudden supply shortages.

• The report emphasizes the importance of ensuring a balanced mix of investments. It was told that investment should not be only on solar, wind energy and electric vehicles.

• The IEA stressed the importance of political and commercial relations between energy producers and consumers in managing energy supply and demand.

• The World Energy Outlook 2023 report appreciated the changes in India's energy landscape over the last few decades.