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REM: With decisive actions, net zero energy is within reach in the Emerging Europe and Central Asia, says new World Bank report

A new World Bank report released on February 22 lays out pathways for countries in the emerging Europe and Central Asia region to make the shift towards renewable energy and reduce their fossil fuel dependence, highlighting the intertwined benefits of the transition for energy security, sustainable growth and affordability.

The report – Net Zero Energy by 2060: Charting Europe and Central Asia's Journey Toward Sustainable Energy Futures – provides a unique analysis that can help governments in the emerging Europe and Central Asia region prioritise policies and investments necessary to shift their energy systems away from fossil fuels by 2060, which is crucial for keeping global temperature rise below 2°C.

“This report is being released at a particularly alarming moment following the biggest supply shock ever experienced in gas markets, and an increasing rise in global temperatures, which has exceeded 1.5°C compared to historical averages for an entire year,” said Charles Cormier, World Bank Regional Director for Infrastructure in Europe and Central Asia.

“Our analysis provides countries in the Europe and Central Asia region with least-cost pathways towards fulfilling global commitments made at COP28.”