Global energy crisis: security, transition and investment
The world is experiencing an extreme energy crisis compounded by Russia’s invasion of Ukraine. This will have long-lasting effects on economies around the world and may become the biggest driver for the transition to clean energy. The International Energy Agency estimates that new policies in major energy markets will boost annual clean energy investment to more than $2tn by 2030, a rise of more than 50% from today. There is an urgent need to attract new public and private investors to the energy sector – investments need to reach more than $4tn annually by 2030. To tackle this, REPowerEU has been established by the European Commission fast forward the green transition, while increasing the resilience of the EU-wide energy system.
This in-person roundtable discusses the security implications of the global energy crisis, its potential to accelerate the green transition, how to scale up investment in clean energy and what governments can do to incentivise this.
Tom Howes,DG Energy, Green Transition and Energy System Integration, European Commission.
Tanguy de Bienassis, Energy Investment and Finance Analyst, Energy Supply & Investment Outlooks, International Energy Agency
This meeting will be conducted under the OMFIF Rules.
This in-person discussion is part of the OMFIF Sustainable Policy Institute. The SPI is a high level community which brings together central banks, sovereign funds, public pension funds, and their counterparts in asset management, banking and professional services to explore policy, regulatory and investment challenges posed by environmental, social and governance themes. See more information on OMFIF’s SPI here.