Tags: Davos Forum | The Latest

Live Updates | World Economic Forum Gathering in Davos

Live Updates | World Economic Forum Gathering in Davos

Tuesday, 17 January 2023 05:00 AM EST

DAVOS, Switzerland (AP) — The Latest on the World Economic Forum gathering in Davos, Switzerland:

The head of the International Energy Agency says Russia’s invasion of Ukraine has spurred new support for renewable energy as worries over security of supply join environmental concerns.

But IEA Executive Director Fatih Birol said Tuesday during a panel discussion at the World Economic Forum in Davos, Switzerland, that investment in clean energy still lags far behind what’s needed.

He says the disruption of oil and natural gas supplies from Russia means that “the biggest driver of renewable energy growth today is energy security ... because home-grown renewables are the energy of peace.”

Birol cited as progress the shift to battery-powered cars, saying they were only 3 in every 100 vehicles sold in 2019 but reached 13% last year. He says every other car in major markets will be electric by 2030.

He welcomed government support like the Inflation Reduction Act in the U.S. and the EU’s Fit for 55 goals but warned that rich countries’ efforts won’t be enough if developing nations can’t afford the transition to energy sources that emit less climate-changing carbon dioxide.

Right now, Birol says there is $1.50 in investment in clean energy for every $1 investment in fossil fuels: “If we want to reach our target, the ratio needs to be one to nine.”

Polish President Andrzej Duda is predicting that the German government will agree one day to send powerful Leopard tanks to Ukraine, citing Germany’s membership in NATO and rising public support for Ukrainians beleaguered by Russia’s war.

The Polish leader quipped during a panel at the World Economic Forum in Davos on Tuesday: “We don’t mention that Ukraine will win this war, we mention that Ukraine will not lose this war,” before chuckling.

His Lithuanian counterpart, Gitanas Nauseda, quickly replied: “I mention that Ukraine will win this war.”

Ukrainian President Volodymyr Zelenskyy have been clamoring for more supplies of Western weaponry like tanks and air defense systems nearly a year into the war.

Duda said it was an “important moment” that NATO members, like Britain have vowed to send modern tanks to Ukraine, which could affect the thinking of Chancellor Olaf Scholz’s government.

Scholz, who is speaking at Davos on Wednesday, has said Germany will “weigh every step carefully” and consult with its allies on further weapons deliveries to Ukraine.

Duda also said German public opinion was becoming “stronger and stronger and stronger” in favor of Ukraine, and he hoped that would result in the “very needed decision” to send Leopards to Ukraine.

KEY DEVELOPMENTS:

— Ukraine’s first lady to speak on the first big day in Davos

— Online conspiracy theories target World Economic Forum

— Business trusted most in a more polarized world, report says

— Anti-poverty group urges windfall tax on food company profits

Follow AP’s coverage of the World Economic Forum meeting at https://apnews.com/hub/world-economic-forum

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
- The Latest on the World Economic Forum gathering in Davos, Switzerland:The head of the International Energy Agency says Russia's invasion of Ukraine has spurred new support for renewable energy as worries over security of supply join environmental concerns.But IEA...
Davos Forum,The Latest
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2023-00-17
Tuesday, 17 January 2023 05:00 AM
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