Energy crisis shifts investment away from fossil fuels

According to the International Energy Agency (IEA), energy crises are prompting governments and major energy companies to redirect investment toward renewable energy and nuclear power, driven by concerns over sovereignty. The IEA estimates that energy-sector investment will total 3.4 trillion dollars in 2026, with 65% allocated to renewables, nuclear power, electricity grids and batteries. Oil, gas and coal are expected to attract the remaining 1.2 trillion dollars.The agency believes the impact of the crisis will extend well beyond this year, as the appeal of renewables and nuclear energy has now become structural. The IEA also estimates that the investment required to repair infrastructure damaged during the war—around thirty sites in total—will amount to tens of billions of dollars.