TotalEnergies – Energy Outlook, 2023

TotalEnergies' Energy Outlook for 2023 highlights the decoupling of energy demand growth from GDP growth, thanks to better energy usage in the past 20 years. This decoupling has been evident since 2000 for oil demand, which grew at the same rate as the population until 2019. Similarly, coal has grown at the same pace as renewables since 2015. Renewable energy production has seen a significant increase in the last five years, meeting 40% of the growth in primary energy demand. However, the energy transition holds different meanings for inhabitants of developed countries (NZ50) compared to those in the Global South, where access to energy is limited, with an average of less than 10 MWh/year for four billion out of 5.2 billion people. TotalEnergies recognizes the Global South's legitimate aspirations for higher living standards, including poverty alleviation, access to health, education, and energy. Therefore, supporting the energy transition in the Global South becomes crucial for climate justice. This support goes beyond financing and also includes technology transfer and training. The Global South demands the right to development, even if it means utilizing fossil fuels, particularly if they are locally available.