If the world economy fails to recover rapidly from the Covid-19 crisis and if efforts to curb emissions are moderately accelerated, it is possible that global fossil-fuel demand peaked in 2019, a new Boston Consulting Group (BCG) analysis shows. The analysis models the future demand for coal, oil and natural gas using the three recovery scenarios published by the International Monetary Fund (IMF) in April, an extrapolation of past energy intensity trends and the growth assumptions for renewables and electrification provided by International Energy Agency’s Stated Policies Scenario, which has been adjusted for the slowdown caused by the pandemic.
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