Energy Reality Overtakes The Transition Narrative In S&P Global Study

A new S&P Global Energy study, “Multidimensional Global Energy Pathways,” challenges what it calls the dominant narrative of a rapid, renewables-led energy transition. Framed by Daniel Yergin, it starts from real-world demand, infrastructure limits, and the needs of developing economies, projecting that fossil fuels will still provide more than half of global energy supply by 2060. The report introduces an “Energy Prosperity Indicator” to assess country-level trade-offs tied to affordability, security, resilience, and air quality rather than applying a single climate scorecard. It argues a 1.5°C warming target is not achievable, and says emerging-market net-zero pledges are unrealistic even under aggressive scenarios.