The impact of the war in Ukraine on the path to net zero
FinanceAsia spoke to experts on how countries can balance their short-term energy needs with longer-term climate goals, in light of pressing energy security concerns and price volatility.
Konoly
FinanceAsia spoke to experts on how countries can balance their short-term energy needs with longer-term climate goals, in light of pressing energy security concerns and price volatility.
August 16, 2022
The war in Ukraine may temporarily derail global efforts towards net zero, as governments scramble to ensure energy security. Long term, however, it has highlighted the importance of energy diversification, and may offer Asian nations the push needed to accelerate the renewables agenda, experts say.
As countries, particularly those in the West, began sanctioning Russia in response to its invasion of Ukraine on February 24, they faced the dilemma of how to replace the 4.7 million barrels per day mbd in crude oil, and 8.9 trillion cubic feet Tcf per year in gas, that Russia supplies worldwide. Russia is the world’s third-largest oil producer, after the US...
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