Renewables industry starts to grapple with the geopolitical impact of shift to green energy

Renewables industry starts to grapple with the geopolitical impact of shift to green energy

The International Renewable Energy Agency (IRENA) – an industry body which counts more than 150 governments as members – has set up a commission to look into the geopolitical impact of the shift away from oil, gas and coal and towards renewable energy. It is the latest sign of a new seriousness in the green energy industry, which is growing fast and expected to continue doing so in the coming years.

The Global Commission on the Geopolitics of Energy Transformation was launched on January 14th in Abu Dhabi, during IRENA’s annual summit in the city where it is headquartered. The new group will spend a year looking into issues such as the international supply chain for rare earth minerals and other commodities used by the renewables industry, as well as cross-border electricity trading and the potential for political instability – both in countries that find their oil and gas supplies are in less demand and those which become the focus of competition for newly-popular resources.

“There is a very fundamental energy transformation afoot,” said Adnan Amin, secretary general of IRENA, at the launch of the commission. “That energy transformation is increasingly rapid, it’s disruptive, it provides both opportunities and challenges and it’s unstoppable. It’s going to change the face of energy.”

Source: Forbes

Date: April 2018

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