New Energy Is Reshaping The World
How the Global Energy Transition is Set to Disrupt the Geopolitical Landscape
Gitika Bardwaj and Adnan Z. Amin, 5 April 2019 (Chatham House)
“The world is undergoing an energy transformation, from a system based on fossil fuels to a system based on renewable energy, in order to reduce global greenhouse gas emissions and avoid the most serious impacts of a changing climate…[It is reshaping] the geopolitical landscape…[by shifting from an energy system based on scarcity that allowed the exercise of geopolitical power by countries that extracted fossil fuels to one] of potential abundance for almost every country around the world…[A]lmost every country will have some degree of energy independence…[by harnessing] renewable energy…[This fundamental change for the global economy] could potentially disrupt existing power dynamics and trade patterns…[Fossil fuel-producing countries will need to] adopt a new, diversified, economic model…
…[Some are calling for decarbonization and clean energy but others that do not have ambitious strategies of economic diversification could] face some severe challenges in the near future…[New Energy from emerging economies across South America, Asia and Africa. In the last four years] has formed the majority in new capacity addition to the global power sector…[T]his is the development strategy of the future…[It is] a whole new paradigm of development that is emerging based on the current global energy transition…[that will] reduce the risk of energy-fueled conflicts…[The risk of confrontation over contested hydrocarbon reserves] could generate a ‘peace dividend’…[though it could create] severe social disruption…[as is currently] playing out in the coal industry…So there is a lot of work to be done…” click here for more
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