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How will Russia's war in Ukraine affect energy supplies and the planet?

Here’s an expert comment from Michael Bradshaw, Professor of Global Energy at Warwick Business School, on “How will Russia's war in Ukraine affect energy supplies and the planet?"

"Plans to reduce the reliance on oil and gas imports from Russia is likely to promote a short-term surge in emissions as production from non-Russian energy sources accelerates.

"The current energy crisis may stiffen the resolve of many emerging economies to stick with coal, believing it to be more secure.

"It may be costly, but far less so than gas. As the gas price crisis last autumn demonstrated, markets were tight before the war in Ukraine and there is little spare LNG. Many may now avoid it, aiming to leapfrog from coal to clean at some future date.

"However, it is important to note the conclusions of the IEA’s Net-Zero study, that investing in fossil fuel production is not compatible with the Paris Agreement.

"Investing in new large-scale, long-term projects and infrastructure is not a solution to the current crisis. It could also result in ‘carbon lock-in’ or stranded assets.

"The 'no regrets' solution is not more fossil fuel production. It is a reduction in fossil fuel consumption through efficiency, demand reduction, and an increase in clean energy sources.

"It is unclear how fast this can be achieved, but security concerns may accelerate the pace of change."