Countries That Import Energy are Adopting Renewables a Lot Faster
Countries that import energy are switching to renewables at a pace fossil-fuel exporters haven’t come close to matching, driven by mounting urgency to insulate domestic economies from volatile supply chains. Importing regions, including India, China and Europe, shifted away from fossil fuels roughly three times more aggressively over the past five years than the Middle East, Russia, and North America combined, a gap that DNV’s latest energy transition outlook expects to keep widening. That divide has sharpened since the Strait of Hormuz closure, with Ditlev Engel, CEO of Energy Systems at DNV, saying geopolitical pressure over energy supply is reshaping…
