The outlook for energy in a fragmented global landscape

Recent years have seen a period of heightened volatility and uncertainty, with the worst pandemic since the 1920s and the deepest energy crisis since the 1970s, all against a backdrop of increasing political polarisation and geopolitical complexity. In parallel, the world is witnessing rapid technological change in the energy sector and beyond, alongside the increasingly visible and harmful effects of climate change. 

Governments are responding in many different ways to these challenges, with many prioritising affordability, competitiveness and energy security. Action to meet global climate goals also remains an urgent priority for many countries. As energy transitions continue to unfold and develop, these multiple goals present a wide range of synergies and trade-offs. 

For Europe, these challenges are particularly acute, as the continent strives to balance the continued high priority of ensuring secure, affordable energy supplies with the pressing need to boost economic competitiveness, all while pursuing ambitious goals to accelerate decarbonisation. These ambitions were re-confirmed with the recent approval of a new nationally determined contribution (NDC) for the period to 2035, and agreement by EU ministers on a 2040 goal of reducing emissions by 90% below 1990 levels. 

These themes and many others are addressed in the World Energy Outlook 2025 – the world’s leading source of global energy analysis and projections – published by the International Energy Agency (IEA) on 12 November. Updated each year to reflect all the latest energy data, technology and market trends, and government policies – it explores a range of possible energy futures and considers their implications for energy security, emissions and economic development.  

In this conversation with Teresa Ribera, European Commission Executive Vice-President for a Clean, Just and Competitive Transition, and Dr Fatih Birol, Executive Director of the IEA, we will discuss the fast-evolving global energy landscape, and the implications for Europe.  

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PHOTO CREDIT: Shutterstock| Benoit Deschasaux