Emerging stronger from the energy crisis

With fossil fuels pushing back into the center of the political and societal discussion, concerns are arising that short-term fossil fuel supply policies could undermine long-term decarbonization goals. On the contrary, the soaring prices for oil and gas could in fact become a catalyst for the world's transition towards clean energy. Recent figures from the IEA show that despite the energy crisis, clean energy investment has grown and been able to extend its lead over fossil fuels. At the same time, however, investment in fossil fuels continues to rise as well and is close to its pre-Covid level.1 It is hopeful that with the right policy measures the energy crisis can be overcome without neglecting the global energy transition.

Turn the global electricity transition into an energy transition

The energy transformation often focuses strongly on the electricity sector while neglecting efforts in other sectors. While there is no doubt that fully decarbonizing the electricity sector will be one of the most crucial steps towards a green energy system, it alone will not be enough to achieve zero emissions as it also requires a fast ramp-up of those technologies that will utilize this green electricity in the end, electric vehicles or heat pumps for example.