The recently released Energy Transition Outlook (ETO) by the Classification Society sheds light on the future energy transition away from fossil fuels…

The annual Energy Transition Outlook (ETO), now in its 7th edition, presents results from their independent model of the world’s energy system. It spans up to 2050 and forecasts the energy transition both globally and across 10 world regions. Accompanying this is a maritime-specific document released last month detailing DNV’s predictions in similar terms. Despite its broad scope, this Energy Transition Outlook can offer insights relevant to our niche industry. Although the paper suggests the transition is still in its nascent stages, it outlines how the momentum might build.

A pivotal point the paper emphasises is the energy trilemma, which encompasses the challenge of balancing energy security, equity (making it accessible and affordable), and environmental sustainability. With the Paris Agreement’s signing and the swift evolution of renewable energy, emission reduction has been the focal point. Yet, due to the shifting geopolitical arena and rising tensions in certain energy-rich regions, energy security is garnering more attention.

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