Shell - The Energy Security Scenarios

The report presents Shell's Energy Security Scenarios, which explore the possible futures of the energy system and offer insights from leading experts in the field. The main takeaways from the report are that the world is entering an accelerating but increasingly competitive transition towards a more secure energy future. The trend is away from fossil fuels and towards electricity generated by renewables and nuclear power. The accelerating energy transition means that the possible global temperature outcomes are narrowing, with the Energy Security Scenarios covering a temperature range between 1.2°C and 2.2°C warmer than pre-industrial times by 2100. Finding ways for the least developed countries to both develop and decarbonize is essential. The final temperature outcome rests to a large extent on the world's success in deploying carbon sinks. The report contains forward-looking statements concerning the financial condition, results of operations, and businesses of Shell. The scenarios explore the possible outcomes of choices the world is already making, including changes to the energy system, energy demand, the rise of renewables, natural gas and bioenergy, electrification, hydrogen, the carbon budget, policy changes, and land use. Two new scenarios, Archipelagos and Sky 2050, are presented in the report. The Sky 2050 scenario aims to meet the Paris goal of limiting global warming to well below 2°C above pre-industrial levels. Overall, the report provides valuable insights into the possible futures of the energy system and the challenges and opportunities that lie ahead.