A heightened focus on energy security
Russia’s invasion of Ukraine, in addition to creating significant human impacts, sent energy prices soaring and upended energy markets. It also refocused the world’s attention on energy security in a way not seen since the oil crisis of the 1970s. That was especially evident in the European Union, which was highly dependent on Russian oil and gas and already looking to make its energy supplies more sustainable.
Some countries responded with initiatives that hindered their energy-sustainability goals in the short term, such as restarting coal-fired power plants. In the medium to long term, concerns about energy security will heighten investment in renewables—and some of that change is already happening.