Abstract:
A period of high fossil fuel prices that may be ushered in by the Russian invasion has mixed implications. On the one hand, higher prices and a new awareness of the geopolitical risks of relying on imported fossil fuels will increase incentives to invest in alternatives like renewable or nuclear power.
On the other, higher costs and inflation are placing pressure on public and private finance available for the transition, and triggering a rush to increase consumer fossil fuel subsidies (supposedly on the way out after the Glasgow climate pact) and invest in non-Russian fossil fuel production and infrastructure.
Citation:
Allen, A. & Helferty, H. (2022), 'What the invasion of Ukraine means for the IPCC’s latest climate change report', The Conversation, https://theconversation.com/what-the-invasion-of-ukraine-means-for-the-ipccs-latest-climate-change-report-180467