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Climate and energy are more closely intertwined than ever – BNP Paribas Asset Management

Does the energy crisis put climate change targets at risk? Alexander Bernhardt Global Head of Sustainability Research at BNP Paribas Asset Management, explores.

Posted on Nov 03, 2022

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... We seem to be in an endless cycle: energy supply shocks following the outbreak of war in Ukraine have resulted in governments hastily organising energy security strategies to diversify fossil fuel imports and mitigate the impact on households and business. The price of gas has skyrocketed, improving the economics of more carbon-intensive coal.

These events have clear implications for greenhouse gas emissions and the climate. A summer of significant heatwaves has painted a clear picture of how climate change can further exacerbate energy supply problems. Low river water levels and high temperatures have affected fuel supplies and power provision. How can this cycle be broken?

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