Russia is one of the world’s largest gas and oil producers. Its war with Ukraine and the resulting sanctions are seriously affecting global supplies. Victor Wong, Head of UOB Asset Management's (UOBAM) Sustainability Office, shares his thoughts on whether the conflict is causing countries and companies to reconsider their energy plans.

Shift in investment interest towards the clean energy sector

On 4 April 2022, the IPCC (Intergovernmental Panel on Climate Change) released its report with a chilling warning that “without immediate and deep emissions reductions across all sectors, limiting global warming to 1.5 degrees Celsius is beyond reach”. The IPCC report notes that there is sufficient global capital and liquidity to close existing investment gaps, but current financial flows are three to six times lower than the levels needed. My hope and expectation is that the strong momentum of private investments into the clean energy sector seen in the last...