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Achieving ambitious climate and energy targets in times of crisis
A growing number of jurisdictions have recently adopted ambitious renewable energy and energy efficiency targets, in order to accelerate progress towards achieving the temperature goal of the Paris Agreement. In the context of energy market developments stemming from Russia’s large-scale aggression against Ukraine, both renewable energy and energy efficiency in buildings and industry can play a crucial role in managing the ongoing energy crisis. Renewable energy also can help increase energy security, while energy efficiency can help countries use less imported energy, both for housing and industry. However, soaring raw material prices and supply chain disruptions are putting increasing pressure on renewable energy producers, such as in wind energy. Similarly, pressures on private purchasing power and public budgets are compounding existing downward trends in investments in building energy efficiency. How can countries achieve the ambitious renewable energy and energy efficiency targets they have set, in the face of crisis?
