European energy ministers will discuss further options to secure gas supplies and punish Russia.
Europe is facing its worst drought for 500 years, as the European Commission has warned that nearly half of the EU’s territory faces severe water shortages in August, as climate change has caused low rainfall levels and record-high temperatures.
Europe’s efforts to fill its gas reserves ahead of the coming winter could come with a hefty price tag, as global LNG price have reached up to 10 times their normal levels as the continent scrambles for available cargoes.
The record increase in UK wholesale gas prices in the last three years is the prime driver of the sky-high energy bills being faced by consumers, with the country’s renewables roll-out unable to keep prices down.
Zero-carbon housing is a key battleground in combating climate change and global warming, as the residential building sector across Europe has the potential to cut fossil fuel dependency and reduce emissions.
Renewable power generation has grown faster than sluggish demand so far in 2022, driven by strong capacity additions, IEA data showed, dragging down global power sector CO2 emissions slightly despite rising coal use in Europe.
Global emissions of carbon dioxide and other greenhouse gases rose 6.4% to 51bn tonnes in 2021, eclipsing the pre-pandemic peak of 50.3bn tonnes in 2019 as global economic activity resumed, International Monetary Fund data showed.
Nuclear is set to make a "comeback," with capacity forecast to double between 2020 and 2050 from 413 GW to 812 GW, the IEA said.
Europe’s nuclear power sector is starting to worry about its fuel stocks as Russia’s invasion of Ukraine is calling into question the security of uranium supplies and processing services provided by Russia.