Uncertainty preventing transition investments – WEC

Covid-19 variants, economic growth and geopolitics are higher up the agenda for leaders than climate change

Uncertainty around Covid-19 variants, economic growth and geopolitics are preventing investments in the energy transition, according to the 2022 World Energy Issues Monitor report published by the World Energy Council (WEC). Following a 4.5pc drop in global energy demand in 2020—the largest ever absolute decline—energy demand rebounded during 2021 as restrictions were lifted and economies recovered. There has also been a significant boost in government spending, but in many countries that spending has not been directed towards low-carbon technologies, the report finds. 4.5pc – Fall in global energy demand in 2020 Despite a degree of optimism coming out of Cop26, climate change remains abse