The only true path to energy security, stable power prices, prosperity and a livable planet lies in abandoning polluting fossil fuels and accelerating the renewables-based energy transition.They are throwing fuel on the fire.
Investors are still backing fossil fuels, and governments still hand out billions in subsidies for coal, oil and gas – some $11 million every minute.We are still addicted to fossil fuels.The only true path to energy security, stable power prices, prosperity and a livable planet lies in abandoning polluting fossil fuels and accelerating the renewables-based energy transition.
Second, we must improve global access to supply chains for the components and raw materials of renewable energy technologies.We need 600 gigawatts of storage capacity by 2030.Shipping bottlenecks and supply-chain constraints, as well as higher costs for lithium and other battery metals, are hurting the deployment of such technologies and materials, just as we need them most.