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As the world faces the most severe energy crisis since 1970s, a new study by the World Economic Forum on 10 May 2022 called for urgent action by both private and public sectors to ensure a resilient energy transition to address the challenges to environmental sustainability, energy security and energy justice and affordability. According to the report, 'Fostering Effective Energy Transition 2022', the urgency for countries to accelerate a holistic energy transition is reinforced by high fuel prices, commodities' shortages, insufficient headway on achieving the climate goals and slow progress on energy justice and access.