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  • How Putin’s war and small islands are accelerating the global clean energy transition and what to watch for in 2023
How Putins war and small islands are accelerating the global

How Putin’s war and small islands are accelerating the global clean energy transition and what to watch for in 2023

Latest News / By Ashley Cornell, email: [email protected] / December 27, 2022

Arbeiter installieren im April 2022 Solarmodule für eine schwimmende Photovoltaikanlage in Deutschland. <a href="https://www.gettyimages.com/detail/news-photo/worker-fixes-solar-panels-at-a-floating-photovoltaic-plant-news-photo/1240145689?phrase=germany%20solar&adppopup=true" rel="nofollow noopener" Ziel="_leer" data-ylk="slk:Foto von Ina Fassbender/AFP via Getty Images" Klasse="Verknüpfung ">Photo by Ina Fassbender/AFP via Getty Images</a>” src=”https://s.yimg.com/ny/api/res/1.2/L36VKaLCZhjWqz6h1UZ68Q–/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQxNg–/https://media.zenfs.com/en/the_conversation_us_articles_815/9a2ad22e816370e4b9=data904ad4s.rc-rc” “https://s.yimg.com/ny/api/res/1.2/L36VKaLCZhjWqz6h1UZ68Q–/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQxNg–/https://media.zenfs.com/en/the_conversation_us_articles_815/9a2ad22e816370e4b90040ad4b90040ad4b90040”</p><p>2022 has been a tough year for the growing number of people living in food insecurity and fuel poverty around the world, and the start of 2023 looks bleak.</p><p>Russia’s war against Ukraine, one of the world’s largest suppliers of grain and fertilizer commodities, tightened global food and energy supplies, which in turn helped fuel inflation.</p><p>The drought, exacerbated in some places by warring groups blocking food aid, pushed parts of the Horn of Africa into famine. Extreme weather catastrophes have left their mark on almost every continent, with increasing costs. More and more countries fell into a debt crisis.</p><p>But beneath the surface of almost weekly bad news, significant changes are afoot that have the potential to create a more sustainable world – one where humanity can manage climate change, biodiversity loss, and food and energy insecurity.</p><p>I have been involved in international sustainable development for most of my career and now teach climate diplomacy. Here’s how two key systems driving the global economy – energy and finance – are starting to shift towards sustainability and what to watch out for in 2023.</p><h2>Expansion of renewable energies</h2><p>Russian President Vladimir Putin’s war on Ukraine has resonated in Europe and has spread to other countries that have long depended on the region for natural gas. But while oil-producing countries and gas lobbyists are arguing for more drilling, global energy investments are reflecting a faster transition to clean energy.</p><p>Call it the Putin Effect – Russia’s war is accelerating the global shift away from fossil fuels.</p><p>In December, the International Energy Agency released two important reports pointing to the future of renewable energy.</p><p>First, the IEA revised its forecast for renewable energy growth upwards by 30%. She now expects the world to install as much solar and wind power in the next five years as it has in the last 50 years.</p><p>The second report showed that energy use is becoming more efficient around the world, with efficiency increasing at around 2% per year. As noted by energy analyst Kingsmill Bond of energy research group RMI, the two reports together suggest that demand for fossil fuels may have peaked. While some low-income countries eagerly seek deals to develop their fossil fuel resources, the IEA warns that over the next 20 years, new fossil fuel production risks becoming stranded or becoming uneconomic.</p><p>The story goes on</p><p>The main obstacles to the exponential growth of renewable energy, according to the IEA, are outdated energy policy frameworks, regulations, and subsidies written at a time when energy systems, pricing, and utilities were all fossil fuel-centric.</p><p>Look for reforms in 2023, including countries wrestling with how to allow smart grids and new transmission lines, and finding ways to reward consumers for efficiency and clean energy production.</p><p>The year 2023 will also see a greater focus on developing talent for expanding clean energy infrastructure. In the US, the recently passed Inflation Reduction Act and bipartisan infrastructure bill will channel hundreds of billions of dollars into clean energy and technology. Europe’s REPowerEU commitments will also boost investment. However, concerns over “buy American” rules within new US climate laws and an EU plan to introduce a carbon border tax are raising fears that nationalism in trade policy could hamper the pace of green growth.</p><h2>Determination of international climate finance</h2><p>The second system to be reformed in 2023 is international finance. It is also critical to how low-income countries develop their energy systems, build resilience and recover from climate-related disasters.</p><p>Wealthy nations have not advanced the energy transition fast enough or provided enough support for emerging and developing countries to leapfrog inefficient fossil fuel systems. Debt is rising in low-income countries, and climate change and disasters like the devastating floods in Pakistan are stifling growth and increasing costs.</p><p>Barbados Prime Minister Mia Mottley has brought international financial institutions together with think tanks and philanthropists to push for change.</p><p><img class= Post navigation

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