Business Standard

Energy crisis sparked by Ukraine war to speed up green transition: IEA

The IEA's report said the global energy crisis is causing profound and long-lasting changes that could hasten the transition to a more sustainable and secure energy system

Photo: Bloomberg
Premium

(Photo: Bloomberg)

The drop in Russian fossil fuel exports after its Ukraine invasion this year will transform the global energy landscape for decades and can help to hasten a green energy transition, the International Energy Agency (IEA) said on Thursday.

The IEA's annual World Energy Outlook acknowledges the economic hit from reduced supplies of Russian oil, natural gas and coal but is keeping an environmental best case scenario in which no investment in new fossil fuel projects is needed.

The IEA's report said the global energy crisis is causing profound and long-lasting changes that could hasten the transition to a more sustainable and secure

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 27 2022 | 10:42 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com