UN chief says impact of Russia-Ukraine war a 'wake-up call' for shift to renewable energy

As the Russia-Ukraine war has reached its 85th day, Secretary-General of the United Nations António Guterres said that the conflict in war-torn Ukraine and its 'immediate effects' on energy price hikes is yet another 'wake-up call' to speed up the transition to renewable energy. He further claimed that renewable energy is the only way to ensure a long-term future. According to a report from the UN’s Department of Economic and Social Affairs, amid the war, surging energy, food, as well as commodity costs, skyrocketing inflation, and major central banks' tightening monetary policy stances have all harmed global economic prospects.  

The report which is named, ‘World Economic Situation and Prospects as of mid-2022' also revealed, “The world economy is projected to grow by 3.1% in 2022, marking a downward revision of 0.9 percentage points from our previous forecast released in January 2022.” Further, the baseline prediction is subject to severe downside risks due to the ongoing conflict in Ukraine and the possibility of fresh pandemic waves. 

According to the report, the conflict in Ukraine, as well as its impact on energy and commodity prices, may jeopardise climate action. High oil and gas prices, on the one hand, may encourage additional fossil fuel extraction or coal usage. The development of electric cars might be hampered by high nickel prices, while biofuel production could be hampered by rising food prices.  

EU economy has been affected hardest by Russian energy supply interruptions

In addition to this, the report claimed that these high prices would provide nations an opportunity to address their energy and food security issues by speeding up the adoption of renewables and enhancing systemic efficiencies, thus trying to align with overall sustainable development goals and bolstering the fight against climate change. 

The report even highlighted the predictions for growth in the United States, the European Union, and China have all been revised downward, with the EU seeing the most dramatic reduction. The European Union economy, which has been affected hardest by Russian Federation energy supply interruptions, is now predicted to grow by 2.7% in 2022, down from 3.9% in January. 

Furthermore, UN chief Guterres stressed, “The war in Ukraine, on top of all the other global crises, threatens tens of millions of people with food insecurity, malnutrition, mass hunger and famine.” He added that there is enough food in the world for everyone, but they must act quickly and collectively. 

Apart from this, with global hunger levels at an all-time high, the UN chief said on Wednesday that he is in "intense contact" with Russia as well as other key nations in the hopes of reaching an agreement that would allow grain stored in Ukrainian ports to be exported and ensure that Russian food and fertiliser have unhindered access to global markets. 

(Image: AP/Unsplash)