1. Energy transition and regional policies

The energy transition is confronted with the need to meet the continuing growth in energy demand worldwide, due to demographic change and rising living standards, while at the same time significantly reducing the carbon content of the energy consumed, which calls for major investment.

The level of investment in low-carbon energy remains largely insufficient to complete the energy transition. In a May 2020 report, the IEA forecasts that, after stagnating at the $1,850 billion level, investment will fall by a historic 20% in 2020, due to the Covid-19 crisis (figure 1 )