What are the macroeconomic risks associated with the energy transition?

The world will have to speed up its energy transition and reduce its consumption of fossil energies faster . This will generate macroeconomic risks, mainly of three types: Some industries (automotive, chemicals, industrial capital goods) will be faced with a marked decline in demand for their products, as they are linked to fossil energy consumption; If the shift to renewable energies is rapid, because of the intermittency of renewable electricity production, energy prices will rise, which will reduce real income; Emerging countries that emit a lot of CO 2 may be faced with a marked decline in their growth (for example if OECD countries introduce a CO 2 tax at their borders).