Denmark’s plans to export renewables to North West Europe via energy islands in the North and Baltic Seas are beginning to look increasingly promising following growing political support to tackle energy security and volatile prices due to the Ukraine war.
UN Secretary-General António Guterres has proposed what he calls “five critical actions” to jump-start the energy transition, including phasing out subsidies for fossil fuels and tripling private and public investments in renewables to at least US$ 4 trillion dollars a year.
Poland is betting on offshore wind to reduce its dependence on coal and strengthen energy security. The regulatory framework adopted last year has boosted investor confidence and the first fixed-bottom installations in the Baltic Sea are expected to be up and running by the middle of the decade.
The UAE, which was the first Middle Eastern country to announce a net zero emissions target by 2050 and will host the 2023 UN-led climate conference, sees itself at the forefront of the regional energy transition.
Japan is considering its nuclear future to help reach its 2050 net zero goals, but opponents still point to safety concerns. Renewable projects, despite a lack of available land mass, remain a viable long-term alternative.
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