This year's energy price volatility offers a painful reminder of what the transition to a net-zero-emissions economy entails. For the effort to succeed, countries at all levels of development will have to be brought along, which means that the world will need to do much more to manage energy supply.
LONDON – With all eyes on the United Nations Climate Change Conference (COP26) in Glasgow this month, there has been ample media coverage of youth protests, high-level diplomacy, and new agreements to reduce methane and protect the world’s forests. But no task is more important than making decarbonization compatible with efforts to foster economic development in neglected parts of the world. If developing economies – and lower-income people in developed economies – are not brought along, global climate targets will remain out of reach.
LONDON – With all eyes on the United Nations Climate Change Conference (COP26) in Glasgow this month, there has been ample media coverage of youth protests, high-level diplomacy, and new agreements to reduce methane and protect the world’s forests. But no task is more important than making decarbonization compatible with efforts to foster economic development in neglected parts of the world. If developing economies – and lower-income people in developed economies – are not brought along, global climate targets will remain out of reach.