Global Energy Perspective 2023November 2023Executive SummaryAbout this reportThe Global Energy Perspective is produced by Energy Solutions, part McKinsey's Global Energy & Materials practice, in close collaboration with McKinsey Sustainability and the Advanced Industries practice. The Global Energy Perspective 2023 offers a detailed demand outlook for 68 sectors, 78 fuels, and 146 geographies across a 1.5° pathway , as well as four bottom-up energy transition scenarios with outcomes ranging in a warming of 1.6°C to 2.9°C by 2100. The bottom-up scenarios explore potential outcomes ranging from: the current trajectory, the existing climate commitments, and the consequences of “fading momentum” resulting in a delayed transition. Data to fuel these scenarios come from a variety of sources, including the IEA, IPCC, UN, Oxford Economics, USDA, Eurostat, EI Statistical Review of Energy, and EIA, among others.The purpose of developing such a broad range of scenarios is to show the implications of different pathways as a fact base to inform decision makers. However, these scenarios are not exhaustive in the realm of all possible outcomes.McKinsey is committed to our position that the world requires a major course correction to reach the goals aligned with the Paris Agreement, and our research is focused on helping meet those targets.About Energy Solutions: Energy Solutions is McKinsey’s global market intelligence and analytics group, focused on the energy sector. The group enables organizations to make well-informed strategic, tactical, and operational decisions by using an integrated suite of market models, proprietary industry data, and a global network of industry experts. It works with leading companies across the entire energy value chain to help them manage risk, optimize their organizations, and improve performance.About McKinsey & Company: McKinsey is a global management consulting firm committed to helping organizations accelerate sustainable and inclusive growth. We work with clients across the private, public, and social sectors to solve complex problems and create positive change for all their stakeholders. We combine bold strategies and transformative technologies to help organizations innovate more sustainably, achieve lasting gains in performance, and build workforces that will thrive for this generation and the next.McKinsey's Global Energy Perspective report is based on a suite of granular, fully integrated models that span the global energy landscapeOur suite of models captures supply and demand dynamics across regions, sectors and energy products76 Fuels146 Geographies68 SectorsWeb Exhibit of Our model captures supply and demand dynamics across countries, sectors, and energy productsSource: McKinsey Energy Solutions’ Global Energy Perspective 2023McKinsey’s Global Energy Perspective is a suite of granular, fully integrated mode...