The COVID-19 pandemic and Russia-Ukraine war profoundly reorganised global structures and relationships in 2022, and will continue to drive additional uncertainty this year, according to analyst S&P Global Market Intelligence.

Energy prices have a significant impact on household expenditures, industrial costs and business competitiveness. Governments around the world are seeking to bring greenhouse gas emissions down to net zero and limit the worst effects of climate change. This is set to redefine global energy security to include the supply of the minerals, materials and manufacturing capacity needed to deliver clean energy technologies.

Image caption: Franz-Xaver Bernhard, Chairman, VDW (German Machine Tool Builders’ Association).