Electric Vehicle Outlook 2022, Aviation, Energy Storage, Petrochemicals & Carbon Offsets

Hi, welcome to the 4th edition of The Race to NetZero Newsletter, a monthly round-up of the best research and news from BloombergNEF.

Last month our Advanced Transport team finally launched the long awaited Electric Vehicle Outlook 2022, our long term-view (2040) for the road transport sector. I am happy to share some good links for you to read the press release, executive summary and good Bloomberg News Articles, I hope you enjoy.

BNEF Electric Vehicle Outlook 2022

Read Press Release: Net-Zero Road Transport By 2050 Still Possible, As Electric Vehicles Set To Quintuple By 2025

Read Executive Summary

BNEF Subscribers can access the full report here

Bloomberg Green and Hyperdrive also published a good article highlighting some insightful charts from the report: EV Sales Will Triple by 2025 and Still Need More Oomph to Reach Net Zero

My favorite is this chart:

Another good article mention the fact that the overall fleet of vehicle will probably remain flat or decrease in the long term, check out the following article.

Net Zero Could Mean Fewer Cars on Top of Switching to EVs

Read Full article here

I know, especially in emerging economies such as Asia and Latam, the penetration of 2 and 3 wheelers is very high, check out this article showcasing the outlook for this sector

Two-Wheelers on a Steeper Path to Zero Emissions by 2050

Rear full article here

I know most of my network is Spanish-Speaking, so I have a good news to share, next week we will be hosting a Spanish-Speaking Electric Outlook + Latam EVs Outlook webinar, on july 7th at 10am EDT. You can register here to access the live or replay

So after reading all this great insights on road transport, you are probably wondering how the transport sector can get to NetZero, the biggest challenge is probably aviation, so here is a good article to understand the current trends in this sector.

Decarbonizing Aviation Needs Disruptive Technologies

Improving an aircraft’s fuel efficiency is one of the cornerstones behind the aviation industry’s efforts to reduce emissions of carbon dioxide. With many of the world’s biggest airlines now renewing their fleets with more efficient craft, gains are likely to be seen. For the industry to truly achieve its ambitious emissions goals, however, more innovations will be needed.

You can read the full article here

As usual, the BNEF team has been extremely busy this month, so here are some other piece of research and articles of interest for you to read.

Utilities Want More Energy Storage But Supply Remains Low

Although developers are rushing to bring more battery projects online – and demand remains strong – high battery pack prices, global shipping bottlenecks and other supply chain constraints are dampening near-term deployments, said panelists at the?BloombergNEF Summit in New York?in April. Energy storage providers, developers and utilities alike must navigate rising system costs and contract price uncertainty in the near term.

Read full article here

$759 Billion Required for a Net-Zero Petrochemicals Sector by 2050

Petrochemicals could be made with almost no carbon emissions by investing an extra $759 billion by 2050, according to a new report from research firm BloombergNEF (BNEF). Electrification and carbon capture and storage are likely to play a central role in reducing emissions from the production of high-value chemicals, or HVCs, which are key feedstocks used to make plastics and many manufactured goods. HVCs are responsible for up to 2% of global emissions, equivalent to aviation, and double the aluminum industry’s contribution.

Read full article here

Reform Needed to Unlock $550 Billion Carbon Offsets Market

A natural side effect of growing net-zero commitments is a higher aggregate dependence on voluntary carbon offsets. The trading volume of voluntary offsets grew 300% last year on the Expansiv platform alone. By 2050, carbon offsets can become a homogenized commodity market with an estimated value of $245-$546 billion, according to BloombergNEF.

Read full article here

For more BNEF public content, don't hesitate to check-out our Blog?here?or if you prefer to watch videos, there are plenty of videos in our Vimeo Channel?here

I hope you enjoyed the content and as always don't hesitate to comment and/or provide feedback to improve this newsletter.

Best Regards, Saludos, Cordialement

Guillaume