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In June 2022, the European Commission allowed Spain and Portugal to decouple the price of gas from that of electricity for 12 months.
Achieving the goal of net-zero greenhouse gas emissions by 2050 requires a substantial reduction in the share of high-emitting fossil fuels in primary energy consumption.
To achieve the Paris Agreement goals, the global buildings sector must achieve net-zero emissions by 2050, and all new buildings must be net-zero carbon starting in 2030.
It has been over two months since the European Union (EU) ban on Russian crude oil entered into force, triggering friction in oil markets and petroleum supply chains.
To reduce Germany’s energy consumption while shielding consumers from high energy prices, the government announced in September 2022 a “protective shield” for which up to €200 billion would be available.
A major military engagement could occur in the Asia-Pacific region in the form of a possible conflict between the People’s Republic of China and Taiwan.
Russia’s invasion of Ukraine has seriously damaged the country’s reputation as a reliable gas supplier.
Russia’s invasion of Ukraine in February 2022 and the ensuing war have also spurred grave environmental and climate-related concerns.