The global energy challenge
As the world faces the most severe energy crisis since the 1970s, the World Economic Forum has released a special report on the state of the global energy transition, which indicates that urgent action is required by both private and public sectors to ensure a resilient transition to new energy sources. According to the report, Fostering Effective Energy Transition 2022, 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.