Critical infrastructure and corporate assets are particularly vulnerable in a warming climate. Extreme weather shocks – heatwaves, droughts, wildfires, floods and storms – have devastating impacts on human life, but also disrupt services and operations in ways that can have global ripple effects on the economy.
Governments and businesses are reevaluating supply chains and infrastructure and investing in new technologies and adaptability measures. The importance of a more systemic approach to build more resilience and longevity into systems was made clear at United Nations Climate Conference, COP28, where 200 countries explicitly called for the transition away from fossil fuel. And evident in the U.S., where its seen the creation of over 100,000 new climate jobs, spurred by the Inflation Reduction Act and a record-breaking power generation from renewables.
The Weber Shandwick Collective (TWSC) sat down with Christine Harada, Senior Advisor at the White House, and Sasha Mackler, Energy Senior Advisor for TWSC and Executive Director for the Energy Program at the Bipartisan Policy Center, to focus on the net-zero signals to watch this year.
As the public and private sectors work to accelerate the green energy transition, below are key considerations that will guide policymakers in 2024.
Global energy demand will rise.¹
Despite pressure to reduce fossil fuel consumption, global demand for oil, gas and coal will reach a record level in 2024.
Governments will push ahead with faster deployment of renewable energy, with a global forecast of 11% year over year growth in 2024.³
Climate policy will focus on transition away from fossil fuels.
The push of U.S. federal investments flowing into clean energy, together with the pull of decarbonization demand from investors, activists and consumers, will remain strong in 2024.
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