The transition away from fossil fuels in Europe: Geopolitical and practical implications
The transition away from fossil fuels in Europe is a crucial step toward addressing climate change. But also it is a process fraught with significant geopolitical and practical challenges. Traditional oil and gas suppliers to the European Union will face a significant decline in demand, and hence earnings, as Europe moves towards net zero. Many of these supplier countries are relatively poor, growing and in neighbourhoods much less stable than the EU.