– Energy demand and oil prices slumped on the back of Covid-19
– OPEC+ countries agreed on sharp production cuts to stabilise prices
– While coal, oil and gas investment fell, investment in renewables increased
– Rise in sustainable finance looks set to bolster the renewable transition
With new data showing that global carbon emissions are rebounding more quickly than expected after coronavirus lockdowns are eased, questions are being asked about the prospects for renewable energy projects in emerging markets.
In Africa, the twin challenges of the coronavirus pandemic and subsequent drop in oil prices are affecting countries in different ways: net energy exporters are braced for headwinds, but net importers have some relief from current account pressures.
The dramatic slowdown in industrial production, energy demand and transport activity in the first quarter of 2020 has led to significantly lower levels of air pollution, sparking debate over whether the coronavirus outbreak will lead to permanent shifts in consumer and industrial behaviours that could reorient economic policy towards sustainable development goals.
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
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