Insights

COVID-19 and Energy in the New World

EMEA Head of ESG Investment Strategy

Kingsmill Bond

New Energy Strategist, Carbon Tracker Initiative

11 May 2020

The COVID-19 pandemic represents the most serious global public health challenge for over 100 years. When the crisis passes, we will have a unique opportunity to build a new world as the pandemic — and its widespread impact — has the potential to facilitate the transition from fossil fuels to renewables.

The crisis is likely to bring forward peak demand for fossil fuels (first coal, then oil and then gas) and weaken the lobbying power of incumbents. It also creates space for policymakers to implement a fairer, more sustainable energy system and so enables the clean energy revolution to continue.

Amid the difficult challenges we face, this is an area where we can be hopeful for the future.

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