Cutting back – a low energy demand pathway to net zero

Date: 21 October

The Global Climate Service quantifies the macroeconomic impacts of six climate scenarios against our Oxford Economics baseline. These scenarios help businesses understand the trade-offs and implications of climate mitigation. This quarter, our new scenario “Low Energy Demand” highlights the role of reducing energy demand in the clean energy transition. In this scenario, the failure to decarbonise the grid and develop necessary technology like carbon capture compels the world to reduce energy demand. We assume that stringent climate policies are essential to induce the efficiency improvements and behavioural change required to meet climate goals. As the world transforms to make do with less energy, the economy is structurally changed in the long term.

Beatrice Tanjangco

Lead Climate Economist

+44 (0) 203 910 8049

Beatrice Tanjangco

Lead Climate Economist

London, United Kingdom

Beatrice is a Lead Climate Economist. She produces Research Briefs on Climate Change and the economy and supports the expansion of Oxford Economics’ climate capabilities under the Global Climate Service.

Prior to joining Oxford Economics in 2022, she worked on projects in climate adaptation, resilience, and risk as a Research Fellow at the Overseas Development Institute (ODI). Before focusing on climate, she worked for various international organizations (the World Bank and Asian Development Bank) and think tanks, working on topics such as trade, finance, competition, and industry analysis. She also worked in the Oxford Economics Singapore office for several years. Bea holds an MSc in Specialised Economic Analysis from the Barcelona School of Economics, with a BA in Economics with a minor in Literature from the Ateneo de Manila University.

Samuel Gonzalez Holguera

Senior Economist

Private: Samuel Gonzalez Holguera

Senior Economist

London

Samuel is a Senior Climate Economist. He works on long-term climate scenarios as part of Oxford Economics’ Global Climate Service.

Prior to joining Oxford Economics in 2024, Samuel worked for three years at Vivid Economics and McKinsey on sustainability projects, specialising in voluntary and compliance carbon markets. Samuel holds an MPhil in Economics from the University of Cambridge, and a BA in Philosophy, Politics and Economics from Durham University.

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