The conflict in Ukraine carries significant implications for energy and food ESG themes

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Key insights:

• The conflict in Ukraine underscores the tension of balancing energy transition goals and energy needs.
• The war is not compromising Europe’s commitment to decarbonization, but the short-term focus is on energy independence and security of supply.
• Because Russia and Ukraine are major exporters of wheat, grains and fertilizers, the conflict risks undermining food security.