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COVID-19 Impact & Recovery: Energy Outlook for H2 2021

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COVID-19 Impact & Recovery: Energy Outlook for H2 2021

What are the big trends driving the conversation in the energy sector for remainder of 2021 and beyond?

1: A change of leadership in the White House

This is creating opportunities and risks across the industry. The Biden Administration wants to decarbonize the power sector by 2035 and use renewable energy investments as a stimulus in the job market. His administration has paused oil and gas leasing on federal lands and fossil fuel industries expecting tighter environmental oversight and stricter emissions regulations. The first 100 days of the administration has set the stage for a busy year for energy policy.

2: The energy transition

EVs have exploded in popularity, and they’re being charged with a grid that is rapidly retiring coal plans and adding record amounts of renewable energy. The transition will continue to accelerate as most energy companies have either announced plans to achieve net zero emissions by the middle of the century or are embarking on other clean energy related investment programs. At the local and state level, natural gas bans and electrification efforts continue to shake-up the utility industry. Hydrogen energy is also picking up steam as “the next big thing.” We are tracking these announcements and analyzing what it means for all parts of the energy industry.

3: The upcoming UN Climate Change Conference

Later this year in November, the international energy community will meet in Glasgow for the next edition of the UN Climate Change Conference. The race to net zero is emerging as an early theme for the conference. With the U.S. rejoining the Paris Climate Agreement and hoping to re-establish a leadership position, the Biden Administration committed to reducing U.S. emissions at least 50% by 2030 from 2005 levels. And with ESG investors gaining more traction in boardrooms around the country, the latest climate negotiations may push environmental issues even higher on the corporate agenda.

Follow the Insights from S&P Global Market Intelligence to better understand the changing energy landscape as this eventful year marches on.

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