Ensuring resilient energy transition needs to be top-priority: WEF study

A new study by the World Economic Forum (WEF) has called for urgent action by both private and public sectors to ensure a resilient energy transition to address the challenges to environmental sustainability, energy security and energy justice and affordability.

The pace of energy transition needs to be supercharged, as demonstrated by recent spike in fuel prices and challenges to energy security, the WEF said in its report “Fostering Effective Energy Transition 2022”.

According to the report, the urgency for countries to accelerate a holistic energy transition is reinforced by high fuel prices, commodities’ shortages, insufficient headway on achieving the climate goals and slow progress on energy justice and access.