"Monitoring shows global energy transition is not occurring at sufficient pace," said Ian Simm, Director in Wood Mackenzie's consulting division, during the “Caspian and Central Asia Oil Trading and Logistics Forum” organized by GLENMAR Group, APA reports.
“Over the past year, it became clear that the energy transition is not fast enough to meet net-zero targets by the set deadlines,” Simm noted.
According to him, the company has recently included a delayed transition scenario in its forecasts, projecting a five-year lag.
“In summary, the scenario anticipates higher production and demand over a longer period,” Simm said.
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