War-driven energy price spikes highlight value of renewables: UN climate chief

Speaking at the 2026 Green Growth Summit in Brussels, Simon Stiell, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), said the volatility underscored the strategic value of renewable energy.

“Renewables turn the tables,” he said during a keynote address to the event, which brings together European climate and environment ministers alongside businesses, investors and other key stakeholders.

“Sunlight doesn’t depend on narrow and vulnerable shipping straits, wind blows without massive taxpayer-funded naval escorts [and] renewable energy allows countries to insulate themselves from global turmoil and to side-step might-is-right politics.”

Indeed, renewable energy also delivers on people’s top priorities across the continent: security, well-paid jobs, better health and relief from rising living costs, he added.

Fossil fuel dependency

“Fossil fuel dependency is ripping away national security and sovereignty and replacing it with subservience and rising costs,” he said, adding that the reality is what most voters are demanding, climate action delivers at scale.

“Renewables and resilience keep bills down and create far more jobs,” he said. 

Fossil fuel dependency is ripping away national security and sovereignty

“Cutting out fossil fuel pollution cleans our air, improving health and quality of life.” 

Destined to repeat

“Some responses to the fossil fuel crisis, incredibly, argue for doubling down on the cause of the problem and slowing the shift to renewable energy even though it is clearly cheaper, safer, and faster to market,” 

“This is completely delusional because history tells us, this fossil fuel crisis will happen again and again,” Mr. Steill said, adding that fossil fuel dependency means economies, household budgets and business bottom lines are “at the mercy of geopolitical shocks and price volatility in a chaotic world”. 

His message to ministers meeting in Brussels was simple: Meek dependence on fossil fuel imports will leave Europe forever lurching from crisis to crisis, with households and industries literally paying the price.

The UNFCC chief noted the bloc is more reliant on fossil fuel imports than almost any other major economy, which cost the continent over €420 billion in 2024 alone. 

‘Immense’ opportunities

Pointing out that in 2025, renewables overtook coal as the world’s top electricity source, and over $2 trillion was invested in clean energy – double that of fossil fuels – he said “the opportunities are immense.”

As a leader in climate action and ambition, Europe’s efforts, including its Emissions Trading Scheme, is driving investment and innovation, with the continent’s companies at the forefront of clean industries and growth.

That includes SSAB, Maersk and Holcim, which are leaders on green steel, shipping and cement, and Siemens, Schneider and IPS, which are pioneers in wind power, energy storage and electro-tech services. 

Investment goldmine

“Europe can permanently seize the multi-trillion-euro goldmine of investment that’s just getting started by embracing green growth, drawing on your many strengths, [including] education, strong institutions, smart regulation, social justice and innovation and intellectual property, and by backing it up with plans and policies.”

Last century, ​when ​a continent reeling from war came together to build the foundations of integration, energy was top of the list because countries understood that secure and affordable supplies, achieved through cooperation, were the basis of peace and prosperity, he said.

“Today, these truths are more important than ever,” he said.