Macron warns of energy crisis global economic impact

French president Emmanuel Macron has warned that an energy crisis threatens the world’s post-pandemic economic recovery. Macron also called for leaders at a G20 summit in Rome this weekend to work together to stabilize supplies.

In an interview, the French president also urged bigger financial commitments towards the fight against global warming on the eve of the COP26 climate summit in Scotland, and for particular attention to be paid to a deal to phase out coal power.

The G20 needed to coordinate between energy producers and consuming countries to prevent a supply breakdown this winter, which risked “extreme tensions both economically and socially”, Macron said.

“What is happening now is ironic, because we are building a system where in the medium and long term fossil energy will cost more and more, that’s what we want [to fight climate change],” he said. “The problem is that industries and households will need to be accompanied in this transition . . . or it won’t be sustainable.”