Ukraine War Will Boost Renewables Transition, Says Global Watchdog

Abstract

Russia's invasion of Ukraine could accelerate transition from fossil fuels to renewables, IEA says. Clean energy investment in countries' current national plans must double to $4 trillion a year by 2030 to achieve net zero greenhouse gas emissions by 2050. Fossil fuel share of the global energy mix would fall from around 80% to just above 60% by mid century. IEA's analysis found "scant evidence to support claims... that climate policies and net zero commitments contributed to the run-up in energy prices. In the most affected regions, higher shares of renewables, higherShares of renewables were correlated with lower electricity prices.