Global demand for fossil fuels is likely to peak at the end of the decade and associated emissions as early as 2025. However, according to the International Energy Agency (IEA), climate targets will remain a long way off without massive investment.
Some experts suspect that the Greens’ participation in Germany’s government may have confirmed Russian ruler Vladimir Putin’s plans to invade Ukraine in February this year. It signaled to the Kremlin that Europe would finally turn its back on fossil energy – and therefore Russian energy. With each passing year, it would become more difficult for Putin to blackmail Europe with energy.
Whether this is true or not: Putin is likely to have accelerated the green transition with his war, as the International Energy Agency (IEA) wrote in the new “World Energy Outlook” on Thursday.