Europe

Europe is home to a diverse group of energy producers and consumers with extensive ties to global markets.

The region’s energy sector has undergone profound changes following the Russia’s invasion of Ukraine. Since the war triggered an energy crisis that sent prices to record highs, European countries have put energy security at the top of their political agendas, dramatically reducing fuel imports from Russia on which they had previously relied. And they have substantially raised their clean energy ambitions, aiming to further diversify their energy mixes while making progress towards climate targets.

Renewable energy deployment is now at a record high thanks to a raft of supportive policies. Yet greater efforts are needed to overcome ongoing energy challenges, such as bolstering clean energy supply chains, replacing outdated infrastructure, and achieving further energy system integration across the region.