What Europe's Energy Crunch Reveals
Societies that cannot accept today’s energy prices are unlikely to prepare adequately for the green transition, regardless of their long-term net-zero promises. They are instead likely to act too late and thus too suddenly, which will be not only economically costly, but also politically untenable.
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BRUSSELS – This month represents an important milestone in the fight against global warming – and not only because of the United Nations Climate Change Conference (COP26) currently underway in Glasgow. Although many countries announced ambitious emissions-reduction targets in the run-up to the gathering, these often extend a generation into the future, to 2050 or even 2060.