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The key questions considered at this year’s conference included the following: How can we can work together to build a sustainable, secure and diversified global energy supply, and what contribution does renewable energy make to ensuring political stability and economic prosperity across the world?

Ukraine war and climate crisis accelerate exit from fossil energy

The general situation underlying this year’s conference was rather different: Russia’s war of aggression against Ukraine has made Europe aware of how dependence on individual suppliers of fossil energy can quickly pose a threat to national security. At the same time, millions of people around the world are increasingly feeling the catastrophic effects of global warming. The latest report by the Intergovernmental Panel on Climate Change has confirmed that the answer to both these issues is to accelerate the global energy transition.

Countries are realising that switching to renewable energy not only helps mitigate climate change, but also bolsters security and fosters economic development. This awareness is accelerating the phase-out of fossil energy across the globe.

Germany deepens energy cooperation with Uruguay and Chile

The global energy transition is also increasing energy trading and the interconnectedness of different countries. One example of this is the energy and climate partnerships that Germany maintains around the globe. At BETD 2023, Germany deepened its energy cooperation with Uruguay and Chile.