Asia's power crisis: Analysis

Energy crunch will drive up emissions but may spur green investment

Energy-hungry nations refocusing on fossil fuels in interim but analysts say crunch could lead to faster pace of renewables investment

The global scramble for coal, oil and gas supplies is a reminder not only of the world's deep dependency on fossil fuels but also its vulnerability to destabilising price shocks, and the huge climate and health risks from burning carbon-intensive energy.

Analysts say the crisis could lead to faster deployment of renewable energy investment, which the United Nations and the International Energy Agency (IEA) say is vital if the world is to have any chance of limiting global warming to 1.5 deg C above pre-industrial levels.

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A version of this article appeared in the print edition of The Straits Times on October 23, 2021, with the headline 'Energy crunch will drive up emissions but may spur green investment'. Subscribe