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World Energy Outlook: Energy future is based on renewables

Europe is at the epicenter of the first global energy crisis, Fatih Birol said Monday during his visit to Vienna at the Vienna University of Technology. In retrospect, however, the year 2022 could not only be seen as unfavorable but also as a "turning point in the history of energy."

[Translate to English:] Fatih Birol mit Vizekanzler Werner Kogler

This year's "World Energy Outlook" (WEO) was presented on 19.12.2022 by Fatih Birol, Executive Director of the International Energy Agency (IEA), in the Kuppelsaal of the Vienna University of Technology in front of almost 300 guests. Birol was a guest in Vienna at the invitation of the Austrian Chapter of the Club of Rome, the World Energy Council Austria, the Academy of the Vienna University of Technology, the Climate and Energy Fund and the Ministry of Climate Protection. The event was opened by Vice Chancellor Werner Kogler, who referred to the responsibility of fossil fuels for the current economic and energy crisis in his statement. 

The World Energy Outlook, published in October, is considered the most authoritative source of analysis and forecasts in the energy world. At the launch, Fatih Birol referred to the Silver Lining of an energy-critical 2022, as global dislocation triggered by Russia's war of aggression on Ukraine has significantly accelerated the expansion of renewables. As many new plants are planned in the next five years as have been built in the past 20.

The World Energy Outlook, published in October, is considered the most authoritative source of analysis and forecasting in the energy world.

The IEA's data and analysis provide insights into global energy supply and demand and the implications for energy security, climate goals, and economic development. This year, based on the latest energy data and market developments, the WEO answers critical questions about the crisis: will it be a setback for the clean energy transition or a catalyst for more significant action? How might government action affect energy markets? What are the energy security risks on the path to net-zero emissions?

Executive Director Fatih Birol stated that the energy future will be based on alternative energy sources: "We need to rely on renewables, so we need to get off fossil fuels as soon as possible." According to Birol, the world is in the midst of its first global energy crisis since Russia's invasion of Ukraine. "This is a crisis where the energy transition is the solution, not the problem. But there is still a lot of uncertainty about how this crisis will unfold."

TUW Academy was a proud cooperation partner of the event.