Renewables are increasingly central to this transition. New wind and solar projects are now typically cheaper to build and faster to roll out than gas, coal and nuclear alternatives.
The Iran war and escalating tensions across the Middle East have once again exposed how fragile a fossil fuel-centric global energy system can be, with market turmoil echoing the shock that followed Russia’s invasion of Ukraine in 2022.
For governments and businesses, the lesson is familiar: relying on a handful of producers in geopolitically volatile regions is a structural risk, and the logical response is to accelerate the shift away from imported fossil fuels and towards secure, domestically produced energy.
