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The 25th annual World Energy Markets Observatory (WEMO) by Capgemini, in collaboration with VaasaETT and Enerdata, has been recently published. This year’s edition delves into the need to accelerate the energy transition and assesses the technological and legislative developments to enhance security of supply.
In response to the Russian invasion in Ukraine, efforts were made to fortify supply security and energy independence while accelerating the shift towards cleaner energy. Despite advancements in carbon-free electricity technologies, greenhouse gas emissions have continued to rise, exacerbated by the scorching summer of 2023.
The report explores pressing questions around energy sovereignty and the West’s growing reliance on China, a key player in the energy transition.
But are we moving fast enough? Despite the efforts, it’s increasingly unlikely that the 2030 objective of limiting temperature rise to 1.5ºC will be met. Swift adaptation measures are imperative, demanding collaboration among governments, infrastructure managers, businesses, and consumers.
Download the full report for the analysis on the current landscape: