S&P Global Commodity Insights selected as a knowledge partner to Energy Institute for the Statistical Review of World Energy

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S&P Global Commodity Insights, a division of S&P Global (NYSE: SPGI), has been chosen as a knowledge partner by the Energy Institute (EI) for the annual Statistical Review of World Energy. This partnership highlights S&P Global’s expertise in providing comprehensive data and insights on energy markets, including emerging sectors like hydrogen, carbon, and ammonia. The 73rd edition of the Statistical Review, released on June 20, 2024, reveals record global energy consumption driven by coal and oil, increased renewable electricity generation, and significant geopolitical impacts on gas markets due to the ongoing Ukraine conflict. The review also indicates a peak dependence on fossil fuels in advanced economies and accelerating renewable energy adoption in China. S&P Global's insights will help EI analyze key trends and provide an impartial source of data as global energy transitions continue to evolve.

Positive

• S&P Global Commodity Insights has been selected as the knowledge partner for EI's Statistical Review, enhancing its credibility and market leadership.
• S&P Global provides primary data for emerging energy transition commodities, which are becoming increasingly significant.
• The partnership is likely to boost the adoption of S&P Global’s energy transition-focused commodity prices.

Negative

• Record global energy consumption driven by fossil fuels could indicate ongoing challenges in reducing emissions.

LONDON and NEW YORK, June 27, 2024 /PRNewswire/ -- S&P Global Commodity Insights, a division of S&P Global (NYSE: SPGI), has been selected as a knowledge partner to the Energy Institute (EI) for its annual Statistical Review of World Energy.

S&P Global Commodity Insights is the leading independent provider of information, data, analysis, benchmark prices and workflow solutions for the commodities, energy, metals and energy transition markets.

As the Energy Institute's knowledge partner, S&P Global Commodity Insights plays a pivotal role in the provision of comprehensive data and insights for oil, gas and new energy sources. Notably, S&P Global Commodity Insights is the primary data provider for EI's new data sets in areas likely to grow in significance, including energy transition-related commodities, such as hydrogen, carbon and ammonia.

The EI Statistical Review of World Energy analyses data on world energy markets from the prior year. It has been providing timely, comprehensive and objective data to the energy community since 1952.

The 73^rd annual edition of the Statistical Review of World Energy, published on June 20, 2024, presents for the first time full global energy data for 2023.

According to EI, five key stories emerge from the 2023 data:

1. Record global energy consumption, with coal and oil pushing fossil fuels and their emissions to record levels,
2. Solar and wind push global renewable electricity generation to another record level,
3. Ongoing Ukraine conflict cements gas rebalancing in Europe, 
4. Dependence on fossil fuels in major advanced economies is likely to have peaked,
5. Growth economies struggle to curb fossil fuel growth, but renewables accelerate in China. 

Commenting, Energy Institute Chief Executive Dr Nick Wayth FEI said: "The Statistical Review of World Energy provides a comprehensive picture of global energy, this year revealing an increasingly energy hungry world, but with diverse energy stories playing out across different geographies. The Energy Institute is proud to be partnering with S&P Global Commodity Insights to interrogate the data, analyse key trends and articulate these stories as the global energy transition gathers pace."

"The Statistical Review is a cornerstone reference text for anyone interested in understanding energy markets. We are honoured to be chosen as the Energy Institute's knowledge partner and to expand the use of our primary data and insights in their report," said Dave Ernsberger, Head of Market Reporting and Trading Solutions at S&P Global Commodity Insights. "We are especially delighted to observe the growing adoption of our energy transition-focused commodity prices, such as those for hydrogen pathways and carbon credit trading. EI's analysis of these sources will prove increasingly valuable to readers of the review as they seek comprehensive and impartial sources of data to navigate the intricate and multi-faceted energy transition."

Media Contacts:
EMEA: Paul Sandell, +44 7816 180039, paul.sandell@spglobal.com
Americas: Kathleen Tanzy, + 1917 331 4607, kathleen.tanzy@spglobal.com
Asia: Melissa Tan, + 65 68189 7569, melissa.tan@spglobal.com

About S&P Global Commodity Insights
At S&P Global Commodity Insights, our complete view of global energy and commodity markets enables our customers to make decisions with conviction and create long-term, sustainable value. 

We're a trusted connector that brings together thought leaders, market participants, governments, and regulators and we create solutions that lead to progress. Vital to navigating commodity markets, our coverage includes oil and gas, power, chemicals, metals, agriculture, shipping and energy transition. Platts® products and services, including leading benchmark price assessments in the physical commodity markets, are offered through S&P Global Commodity Insights. S&P Global Commodity Insights maintains clear structural and operational separation between its price assessment activities and the other activities carried out by S&P Global Commodity Insights and the other business divisions of S&P Global. 

S&P Global Commodity Insights is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information visit https://www.spglobal.com/commodityinsights.

©2024 by S&P Global Commodity Insights, a division of S&P Global Inc.

About the Energy Institute
The Energy Institute (EI) is the chartered professional membership body for people who work across the world of energy. Our purpose is creating a better energy future for our members and society by accelerating a just global energy transition to net zero.

We do this by attracting, developing and equipping the diverse future energy workforce; informing energy decision-making through convening expertise and advice; and enabling industry to make energy lower carbon, safer and more efficient.

 

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SOURCE S&P Global Commodity Insights

FAQ

What is the significance of S&P Global Commodity Insights being selected as a knowledge partner to the Energy Institute?

This partnership enhances S&P Global's credibility and leadership in providing comprehensive data and insights on energy markets, including new energy transition sectors.

What are the key findings of the 73rd edition of the Statistical Review of World Energy?

The report highlights record global energy consumption driven by fossil fuels, increased renewable electricity generation, and significant geopolitical impacts on gas markets due to the Ukraine conflict.

When was the 73rd edition of the Statistical Review of World Energy published?

The 73rd edition of the Statistical Review of World Energy was published on June 20, 2024.

How does the partnership between S&P Global Commodity Insights and the Energy Institute affect the energy market?

The partnership boosts the credibility and usage of S&P Global's data and insights, helping to navigate the complexities of global energy transitions.

What is the impact of global energy consumption reaching a record level in 2023?

Record levels of global energy consumption, especially driven by fossil fuels, underscore ongoing challenges in emission reductions despite growth in renewable energy.