Jason Bordoff and Meghan O’Sullivan on maintaining energy supply while still hitting climate-change goals

AS RUSSIA’S INVASION of Ukraine becomes more violent, the world is on the cusp of what may become the worst energy crisis since the 1970s. Whereas those crises only involved oil, Russia is one of the world’s largest producers of nearly every form of energy—oil, natural gas, coal, and even the fuel used in nuclear power plants. The unfolding energy calamity demands an immediate response to keep cars moving, homes powered and heated, and to prevent a global recession induced by high energy prices. But as policymakers look for quick fixes, there is also the urgency of weaning the world from fossil fuels, as a major United Nations report made clear last month. In the long run, doing so benefits not just the climate, but also energy security for large consumers of fossil fuels. Pragmatic policies are needed that ensure secure and affordable energy today, and that help to bring about a lower carbon future.