Energy crisis making green transition harder: Sumant Sinha

All eyes are currently on whether the world is going to be able to achieve the sustainable development goals by 2030, and by all accounts at this point in time, it is off track on nearly every single one of them.

There is an energy crisis that the world is currently dealing with on account of the Russia-Ukraine war, and the question now is what that means for the climate transition.

Speaking to CNBC-TV18, Sumant Sinha, Chairman & CEO of ReNew Power, said, “The world is a pretty uncertain place right now, particularly now with the war that is going on, obviously energy is in a very, very difficult place. Europe is now suddenly having to find almost 40 percent of its energy from somewhere else.”

He added, “It is causing a lot of changes right now in the energy transition, which is already creating its own disruption in the energy market. All this is just adding to this whole global macro — this energy crisis is really making the whole energy transition even more complex than it was earlier.”

He said this is going to create a ripple effect, the impact of which is going to be felt — and is being felt — all the way across the rest of the world.

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