Fossil fuels to dominate global energy supply until 2050: Report

Despite the ongoing shift toward cleaner energy, fossil fuels will continue to play a major role in meeting global energy needs, accounting for 40 to 60 per cent of global energy supply by 2050 due to the slower-than-expected adoption of electric vehicles (EVs) and challenges in scaling clean energy technologies, according to McKinsey report.

Gas will continue to be an important energy source, providing stability to power grids as renewables, which are often intermittent, become more prevalent, the report Though fossil fuel consumption is expected to plateau between 2025 and 2035, investments in this sector are likely to continue in order to ensure energy reliability during the global transition to cleaner sources.