In brief | 23 March ‘26
The Guardian: Iran war energy crisis equal to 70s twin oil shocks and fallout from Ukraine war, says IEA chief
Fatih Birol says effect on energy markets of Iran bombings and closure of Hormuz strait not initially understood by world leaders.
Reuters: One battle after another: Iran war deals new blow to Europe's industrial heartland
After years battling the fallout from the global pandemic, the spike in energy costs triggered by Russia's invasion of Ukraine and then punishing US tariffs, war in the Middle East is ramping up the cost of key raw materials once again.
Reuters: G7 ready to act to protect global energy supplies, backs Hormuz Strait security
The foreign ministers of the Group of Seven countries said on Saturday (21 March) they stood ready to take necessary measures to support global energy supplies and reaffirmed the importance of safeguarding maritime routes, including in the Strait of Hormuz.
Bloomberg: European auto suppliers brace for losses this year
A quarter of Europe’s automotive suppliers expects to post losses this year, underscoring the growing strain on a sector squeezed by rising costs and deep structural change.
FT: Iberian blackout prompts calls for Europe-wide grid reforms
Report into last year’s catastrophic outage says the problem did not lie with solar and wind power.
Euronews: 'Climate gaslighting': How fossil fuel giants have quietly abandoned their net zero pledges
A new analysis warns that some of the world’s biggest fossil fuel companies have entered a ‘gaslighting’ phase to bolster their profits.
DW: Earth's climate more unbalanced than ever, WMO warns
A report by the World Meteorological Organization (WMO) confirms the Earth's climate is more out of balance than at any point in observed history – and that the consequences will reverberate for centuries, and potentially millennia.
Forbes: The climate capital reset is here: How to do it right this time - Commentary
The climate capital cycle is heating up again. But this time, it’s being driven by something far more fundamental: Rising energy prices across the global economy.