NEW RESEARCH SHOWS COVID-19 PERMANENTLY REDUCES GLOBAL ENERGY DEMAND

Source: Maritime Fairtrade & DNV GL

Original Date Posted: 9/30/2020

The behavioral and economic ramifications of COVID-19 will permanently reduce global energy demand, according to DNV GL’s newly published Energy Transition Outlook. Compared to the pre-pandemic forecast, energy demand will be lowered 6-8% each year to the middle of the century. COVID-19 has prompted major behavioral shifts important to energy consumption, as demonstrated by reduction in long distance travel and the increase in home office, both of which are responsible for the peak in transport energy demand and oil demand in 2019. DNV GL believes these trends are likely to have lasting societal effects, which will a have major impact on energy demand from transport and commercial buildings.

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