The Statistical Review of World Energy compiles and analyzes data on world energy production, consumption, and emissions looking back at the prior year. It has been providing timely, broad-ranging, and objective data to the energy community since 1952. It is free for users to access.

The Statistical Review provides a high-level view of the global energy system, of how global markets are faring under these pressures, and how the energy transition is evolving.

This year, the report provides insight into how energy systems are adapting to the escalating geopolitical and environmental crises, as well as the progress of the energy transition. The report shines a light on the increase of global energy-related emissions despite record growth of solar and wind power.

Five key themes emerge from this year’s report:

  1. Record deployment of wind and solar in the power sector accounted for around 84% of net electricity growth.
  2. Global primary energy consumption grew by 1%, with the dominance of fossil fuels barely dented at 82%.
  3. Global energy-related emissions continued to grow, up 0.8%, with use of higher carbon fuels negating strong growth in renewables.
  4. Post-COVID, transport fuel demand patterns continued to return, but with major variations across geographies and fuel types.
  5. The Ukraine conflict precipitated record international gas prices and unprecedented shifts in global oil and gas trade flows.

While the energy transformation will not happen with the flip of a switch, its pace is the biggest factor in making a lower carbon future a reality. The 2023 Statistical Review of World Energy shows we have made great strides in diversifying our energy supply, but providing energy that is affordable, reliable, available and sustainable – especially to economies that are still developing – will be no small feat. - Angie Gildea, National Sector Leader – Energy, Natural Resources and Chemicals, KPMG in the US

As Dr. Nick Wayth, Chief Executive at the Energy Institute, explained: “A lot happened and not much happened” in the global energy sector in 2022. High demand coupled with a crisis in supply created record energy prices and unprecedented structural changes. But at the same time, energy use returned to pre-covid levels as the world returned to its old patterns.

What does this mean for businesses? No organization can change the dynamic alone but firms must make what changes they can. Businesses can deliver on net-zero commitments by focusing on:

  • Adoption of renewables. Renewable energy is increasingly commercially viable. Moving to renewable power contracts can reduce costs and carbon emissions.
  • Supply-chain resilience. Consider the risks from climate change to physical locations (due to flooding and heat); and diversifying energy supplies (to cool working environments).
  • Energy efficiency. Harness innovation to embrace technologies such as hydrogen and carbon capture; and to measure progress against net-zero commitments.

Download the 2023 Energy Institute Statistical Review of World Energy today!