The much-vaunted “energy transition” that promised a great leap forward from fossil fuels to renewables along with a cornucopia of technologies is now struggling with history and complexity. A few facts tell the story.

Despite all the talk of “decarbonization,” global coal production reached a record high in 2023. The dirtiest of fuels accounts for 26 per cent of the world’s total energy consumption. And despite all the promises of a green revolution, oil, gas and coal still account for 82 per cent of the global energy mix.

Meanwhile greenhouse gas emissions galloped to a new high in 2023. The concentration of carbon dioxide gases in the atmosphere has increased 11.4 per cent in just 20 years.

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