Next year, support for fossil fuel investments could be continued to cope with inflation and social tensions caused by rising food and energy prices around the world, Report informs, citing Saxo Bank.

“Realizing the inflationary threat from surging commodities prices and the risk of an economic train wreck due to the unrealistic timeline for the green energy transition, policymakers kick climate targets down the road. They relax investment red tape for five years for oil production and 10 years for natural gas production, to encourage producers to ensure adequate and reasonably priced supplies that bridge the gap from the energy present to the low-carbon energy future,” the report said.