Carbon neutrality will mean the end of the fossil fuel era and the beginning of a clean energy era backed by data-driven, intelligent energy networks. Now the entire world is aligned around one goal and one shared value – carbon neutrality.
So far, more than 110 countries have committed to carbon neutrality targets, and are speeding up their transition from fossil energy to renewable energy.
The energy sector is seeing new opportunities made possible by a new technological revolution and industry transformation. The interplay of technological, political, social, and economic factors is pushing the energy sector into a new growth phase.
Global greenhouse gas (GHG) emissions reached 55.3 gigatons of CO2 equivalent in 2018. Fossil CO2 emissions from energy use and industry reached a record 37.5 gigatons of CO2 per year, equal to nearly 70% of total GHG emissions.
Global GHG emissions also grew by about 0.5% in 2019. Total emissions volumes continue to climb even if that growth is slowing. If the world continues to operate according to its current environmental policies, global temperatures will rise 3°C to 3.2°C by the end of the century.
There is still a long way to go before global GHG emissions are brought under control. Realizing a global vision of carbon neutrality will require the transformation of energy systems, which are a key part of the digital infrastructure. Energy systems need to rapidly transition towards diversified and clean energy sources, low-carbon operations, and digital transformation. This is how the energy sector can address the needs of the digital world.
Huawei Investment & Holding Co., Ltd. recent annual report noted that digital transformation is reshaping energy supply and demand model, and expediting the shift towards green energy and low-carbon operations. New digital technologies, such as 5G, AI, cloud, and big data, are working together to digitalize traditional energy networks.
Data has become a key resource in the energy Internet. Novel approaches, including using bits to manage watts and using data flows to optimize energy flows, will make energy networks greener, more resilient, open, intelligent, reliable, and efficient.
Real efforts are need that will help the energy sector transform towards green, low-carbon, safe, and efficient business models.
Image Source: Carbon neutrality | Bosch Global
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