Securing the Energy Transition

The report argues that energy security and the energy transition are interdependent, suggesting that the current energy crisis should be used as a catalyst for decarbonization rather than a reason to revert to fossil fuels. It identifies structural vulnerabilities, such as underinvestment and lack of diversification, and proposes a six-dimensional framework—supply security, demand management, market/regulatory measures, global/regional trust, system stability, and system security—to build resilience. The document outlines ten immediate actions, including leveraging excess oil and gas profits for clean energy and reducing methane leakage, to ensure short-term fixes do not create long-term emissions lock-in.

• Energy security and the energy transition are mutually reinforcing; data from the Energy Transition Index (2010-2022) shows that 63% of leading countries in energy system performance and transition readiness also led in energy security.
• The current energy crisis is rooted in long-term structural vulnerabilities, including a significant investment gap where clean energy investments remained flat at $1 trillion per year from 2015 to 2020, far below the $4 trillion annually recommended by the IEA.
• Short-term crisis responses have led to negative climate outcomes, including record-high global CO2 emissions as countries reverted to coal to preserve natural gas supplies.
• The report proposes ten actions to align crisis responses with the transition, including a recommendation that for every $1 spent on new fossil fuel production and infrastructure, $5 should be invested in renewable energy capacity.
• Addressing methane leakage in hydrocarbon supply chains could significantly bolster energy security; reducing flaring and leaks among EU gas exporters could save the equivalent of one-third of total Russian gas exports to the EU in 2021.
• There is a critical need to leverage private sector capital, specifically the estimated $4 trillion in excess profits made by oil and gas companies in 2022, to bridge the clean energy investment gap.
• Demand-side management, including energy efficiency and behavioural change, could yield energy savings of approximately 110 EJ by 2030, which is equivalent to China's total final energy consumption today.
• The transition to clean energy creates new supply security risks due to the regional concentration of critical minerals: Chile holds 44% of global lithium reserves, the Democratic Republic of Congo holds 50% of cobalt, and China holds 38% of rare earth minerals.
• System stability requires a massive scale-up of energy storage; the IEA's net zero scenario calls for grid-scale battery storage to expand 44-fold from 6 GW in 2021 to 680 GW by 2030.
• Digitalization of energy systems has increased exposure to cyber threats, with malware and ransomware attacks increasing by 358% and 435% respectively in 2020.

APA

World Economic Forum (2023). Securing the Energy Transition. https://www3.weforum.org/docs/WEF_Securing_the_Energy_Transition_2023.pdf

Chicago

World Economic Forum. Securing the Energy Transition. 2023. https://www3.weforum.org/docs/WEF_Securing_the_Energy_Transition_2023.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=Securing the Energy Transition |date=January 2023 |url=https://www3.weforum.org/docs/WEF_Securing_the_Energy_Transition_2023.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2023securing, author = {{World Economic Forum}}, title = {{Securing the Energy Transition}}, institution = {World Economic Forum}, year = {2023}, month = jan, url = {https://www3.weforum.org/docs/WEF_Securing_the_Energy_Transition_2023.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }