BP has trimmed its outlook for oil and gas demand in its latest annual forecast, arguing that the upheaval unleashed by Russia’s invasion of Ukraine will push countries to pursue greater energy security over the next decade by investing in renewables.
As a result, global carbon emissions could peak earlier in the 2020s than it had previously suggested, BP said in its annual energy outlook on Monday.
But even with increased political support for the shift away from fossil fuel, governments and industry are still far behind in the race to achieve net zero emissions by 2050, the analysis showed.
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