Jeremy Bowden

While Europe is partly accelerating low-carbon programmes to wean itself off Russian energy in the light of the Ukraine war, the picture in Asia is more mixed, with many still associating reliable energy with fossil fuels.

As the energy transition gathers pace it is clear that there will be a cost, at least in the short- to medium-term, for all countries but especially for poorer, oil-rich and energy-intensive nations.

As prices rise and regulation tightens around voluntary carbon offsets, their use by oil and gas companies to meet net zero targets will become more of a challenge.