Letter from Europe: Energy transition meets reality

The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order

European voters have in recent years increasingly resisted the push towards greener policies because of their economic cost, while European oil and gas majors have been dialling down their once lofty climate rhetoric. March saw further evidence that both political and corporate support for the transition is weakening. Meanwhile, the continent’s gas supply security remains at risk. Swiss reject climate fund Swiss voters overwhelmingly rejected a proposal to create a federal climate and nature fund in a nationwide referendum on 8 March, highlighting growing political resistance to large-scale public spending on climate policy. The initiative—backed by the Greens and Social Democrats—would have