The Impact of Energy Transition to Net-Zero Emissions on The World Economy and Global Strategies

Abstract

The world is going towards a net-zero emissions future, and this transition is expected to have a significant impact on the global economy. The shift towards low-carbon sources and the reduction of greenhouse gas emissions will bring about changes in the way we produce, distribute, and consume energy, as well as in the way we conduct business and trade with other countries. One of the most significant impacts of the energy transition will be on the industries which work with fossil fuels. On the other hand, the renewable energy and nuclear sector is expected to grow rapidly, creating new jobs and opportunities for investment. transition to a net zero energy system by 2050 should be ensuring stable and affordable energy supplies, provide universal energy access, and enable robust economic growth. this transition should set out a cost-effective and economically productive pathway, resulting in a clean, dynamic, and resilient energy economy dominated by clean energy resources such as solar, wind, and nuclear instead of fossil fuels. To achieve net-zero emissions countries will require cooperation on issues such as technology transfer, financing, and policy development. The Paris Agreement, signed by 196 countries in 2015, provides a framework for this cooperation and sets a goal of limiting global warming to well below 2 degrees Celsius above pre-industrial levels. In this article, we will investigate which disruptive events and crises could endanger the security of supply and what long-term and cost-effective transformation strategies for transition to net-zero emissions can be imagined. and also, what are the key drivers in this transition