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Head of Global Energy Strategy at the bank Christyan Malek told the Financial Times, "We need to face the reality that the variables have changed. Achieving the net zero emissions target will take some time. Interest rates have increased significantly. Both the amount of government debt and the structure of geopolitics have altered dramatically. The $3–4 trillion annually needed to complete this endeavor will come in the conditions of a shift in macroeconomic conditions."
According to him, nations would face pressure to abandon their more aggressive energy plans due to the amount of investment needed.
As stated in the JPMorgan research, "Changing the global energy system is a process that should be measured in decades or generations, not years."
The paper states that the fall in the consumption of coal, oil, and gas is being hampered not just by rising interest rates but also by inflation and the crises in the Middle East and Ukraine.
Furthermore, JPMorgan noted that investments in renewable energy provide only average returns and that civil discontent may potentially become a threat in the event of a substantial increase in energy prices.
source: ft.com
According to him, nations would face pressure to abandon their more aggressive energy plans due to the amount of investment needed.
As stated in the JPMorgan research, "Changing the global energy system is a process that should be measured in decades or generations, not years."
The paper states that the fall in the consumption of coal, oil, and gas is being hampered not just by rising interest rates but also by inflation and the crises in the Middle East and Ukraine.
Furthermore, JPMorgan noted that investments in renewable energy provide only average returns and that civil discontent may potentially become a threat in the event of a substantial increase in energy prices.
source: ft.com
