- ECONOMIC IMPACT -

Latest update: 18 August

Worldwide GDP forecast is positive, with the consensus forecast for global GDP growth in 2021 currently 6.0%.

Public debt levels are soaring due to unplanned spending, such as stimulus packages, with debt in the UK, US and Japan set to exceed more than 100% of GDP by 2022.

$2.3tn

The US Federal Reserve has provided $2.3tn in loans to support the national economy since April.

4%

Global added renewable energy capacity in 2020 was 4% higher than in 2019.

Impact of Covid-19 on equity indices

- SECTOR IMPACT: POWER -

Latest update: 3 September

COAL

In 2020, coal demand dropped by 220 million tonnes of coal equivalent, or 4%. In 2021, coal demand has rebounded strongly, reversing the declines in 2020, though with major geographic variations.

OIL

In 2021, oil demand is expected to rebound by 6%, faster than all other fuels. The last time oil demand increased this rapidly was in 1976. Despite the strong rebound, oil demand remains 3% (3.1 mb/d) below 2019 levels.

GAS

The combination of continued lower prices and rapid growth in economies across Asia and the Middle East should drive growth of 3% in gas demand in 2021. As a result, global natural gas demand in 2021 is projected to rise 1.3% above 2019 levels.

WIND

Generation from wind and solar PV is set to grow by 17% in 2021, up from 16% in 2020. Two years of rapid growth means the share of renewables in total electricity generation will reach almost 30% in 2021, up from less than 27% in 2019

SOLAR

Renewables usage grew by 3% in 2020, largely due to an increase in electricity generation from solar PV and wind of 330TWh.

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