1. International Energy Agency (IEA). (2026). Global Energy Review 2026. https://www.iea.org/reports/global-energy-review-2026.

2. World Economic Forum. (2026). Global Risks Report 2026. https://www.weforum.org/publications/global-risks-report-2026/.

3. International Energy Agency (IEA). (n.d.). Strait of Hormuz Factsheet. https://www.iea.org/about/oil-security-and-emergency-response/strait-of-hormuz.

4. International Energy Agency (IEA). (2025). Global Critical Minerals Outlook 2025. https://www.iea.org/reports/global-critical-minerals-outlook-2025.

5. International Energy Agency (IEA). (2025). Energy and AI. https://www.iea.org/reports/energy-and-ai.

6. International Energy Agency (IEA). (2025). Global Energy Review 2025: Key findings. https://www.iea.org/reports/global-energy-review-2025/key-findings.

7. International Energy Agency (IEA). (2025). World Energy Investment 2025. https://www.iea.org/reports/world-energy-investment-2025.

8. BloombergNEF. (2026). BloombergNEF Finds Global Energy Transition Investment Reached Record $2.3 Trillion in 2025, Up 8% from 2024. https://about.bnef.com/insights/clean-energy/bloombergnef-finds-global-energy-transition-investment-reached-record-2-3-trillion-in-2025-up-8-from-2024/.

9. Bussewitz, C. (2026). U.S. gasoline prices rise 50% since the start of the Iran war. PBS News. https://www.pbs.org/newshour/economy/u-s-gasoline-prices-rise-50-since-the-start-of-the-iran-war.

10. Maturana, J. (2026). Europe’s response to the relentless surge in energy and fuel costs from the war in Iran. Euro News. https://www.euronews.com/2026/03/22/europes-response-to-the-relentless-surge-in-energy-and-fuel-costs-from-the-war-in-iran.

11. World Economic Forums. (2026). These are the top 10 risks in 2026: Geoeconomic confrontation ranks highest in ‘age of competition’. https://www.weforum.org/stories/2026/01/global-risks-2026-top-10-two-and-ten-year-horizon/.

12. World Trade Organization (WTO). (2025). Large increase in new tariffs but also measures to ease global trade, WTO report shows. https://www.wto.org/english/news_e/news25_e/trdev_02dec25_225_e.htm.

13. International Energy Agency (IEA). (n.d.). Strait of Hormuz Factsheet. https://www.iea.org/about/oil-security-and-emergency-response/strait-of-hormuz.

14. International Energy Agency (IEA). (2026). The Middle East and Global Energy Markets. https://www.iea.org/topics/the-middle-east-and-global-energy-markets.

15. International Energy Agency (IEA). (2026). Electricity 2026: Analysis and forecast to 2030. https://iea.blob.core.windows.net/assets/b73798cb-e452-42b9-9d8a-07542de7a041/Electricity_2026.pdf.

16. Ibid.

17. Ibid.

18. International Energy Agency (IEA). (2026). Electricity demand is set to grow strongly through 2030 as the Age of Electricity takes hold. https://www.iea.org/reports/electricity-2026/executive-summary.

19. Climate TRACE. (2026). Climate TRACE Data Show Global Greenhouse Gas Emissions Hit a New Record High in 2025. https://climatetrace.org/news/climate-trace-data-show-global-greenhouse-gas-emissions-hit-a-new-record-high-in-2025.

20. World Energy Outlook. (2025). In a volatile world, energy security takes centre stage. https://www.iea.org/reports/world-energy-outlook-2025/executive-summary.

21. International Energy Agency (IEA). (2025). Global Critical Minerals Outlook 2025: Executive summary. https://www.iea.org/reports/global-critical-minerals-outlook-2025/executive-summary.

22. BloombergNEF. (2026). BloombergNEF Finds Global Energy Transition Investment Reached Record $2.3 Trillion in 2025, Up 8% from 2024. https://about.bnef.com/insights/clean-energy/bloombergnef-finds-global-energy-transition-investment-reached-record-2-3-trillion-in-2025-up-8-from-2024/.

23. BloombergNEF. (n.d.). Energy Transition Investment Trends. https://about.bnef.com/insights/finance/energy-transition-investment-trends/.

24. Gartner. (2025). Gartner Says Worldwide AI Spending Will Total $1.5 Trillion in 2025. https://www.gartner.com/en/newsroom/press-releases/2025-09-17-gartner-says-worldwide-ai-spending-will-total-1-point-5-trillion-in-2025.

25. Microsoft. (2024). Accelerating the addition of carbon-free energy. https://www.microsoft.com/en-us/microsoft-cloud/blog/2024/09/20/accelerating-the-addition-of-carbon-free-energy-an-update-on-progress/.

26. Google: The Keyword. (2024). New nuclear clean energy agreement with Kairos Power. https://blog.google/company-news/outreach-and-initiatives/sustainability/google-kairos-power-nuclear-energy-agreement/.

27. Amazon News. (2024). Amazon signs agreements for innovative nuclear energy projects to address growing energy demands. https://www.aboutamazon.com/news/sustainability/amazon-nuclear-small-modular-reactor-net-carbon-zero.

28. International Energy Agency (IEA). (2025). World Energy Investment 2025. https://www.iea.org/reports/world-energy-investment-2025.

29. World Economic Forum. (2026). Electricity Reinvented: How Innovation is Transforming the Future of Power Systems. https://reports.weforum.org/docs/WEF_Electricity_Reinvented_2026.pdf.

30. International Energy Agency (IEA). (n.d.). China. https://www.iea.org/countries/china.

31. International Energy Agency (IEA). (2025). World Energy Outlook 2025: Executive summary. https://www.iea.org/reports/world-energy-outlook-2025/executive-summary.

32. International Energy Agency (IEA). (n.d.). China. https://www.iea.org/countries/china.

33. BloombergNEF. (2026). BloombergNEF Finds Global Energy Transition Investment Reached Record $2.3 Trillion in 2025, Up 8% from 2024. https://about.bnef.com/insights/clean-energy/bloombergnef-finds-global-energy-transition-investment-reached-record-2-3-trillion-in-2025-up-8-from-2024/.

34. Institute for Energy Economics and Financial Analysis. (2024). Portugal needs more wind capacity to replace rising Spanish electricity imports. https://ieefa.org/resources/portugal-needs-more-wind-capacity-replace-rising-spanish-electricity-imports.

35. Government of Portugal. (2019). National Energy and Climate Plan 2021-2030. https://energy.ec.europa.eu/system/files/2020-06/pt_final_necp_main_en_0.pdf.

36. International Energy Agency (IEA). (2025). Lithuania 2025. https://www.iea.org/reports/lithuania-2025/executive-summary.

37. The Progress Playbook. (2025). Free from Russia’s grid, Lithuania advances towards 100% renewable power by 2030. https://theprogressplaybook.com/2025/02/11/free-from-russias-grid-lithuania-advances-towards-100-renewable-power-by-2030/.

38. Business Finland. (2026). Finland’s Q4 2025 business snapshot: Energy transition and tech innovation leap ahead. https://www.businessfinland.com/news/2026/finlands-q4-2025-business-snapshot-energy-transition-and-tech-innovation-leap-ahead/.

39. Fingrid. (2025). Main grid development plan updated: reinforcing the grid creates growth opportunities across the country. https://www.fingrid.fi/en/news/news/2025/main-grid-development-plan-updated-reinforcing-the-grid-creates-growth-opportunities-across-the-country/.

40. Ministry of Economic Affairs and Employment of Finland. (2025). Sustainable Growth Programme in the MEAE. 5. RRF energy investment aid projects granted aid. https://tem.fi/en/rrf-energy-investment-aid-projects-granted-aid.

41. World Economic Forum. (2025). Case Studies from Around the World: Responsible Renewables Infrastructure. https://initiatives.weforum.org/responsible-renewables-infrastructure/case-studies.

42. YaleEnvironment360. (2024). As Germany Cuts Red Tape, Renewable Installations Boom. https://e360.yale.edu/digest/germany-wind-solar-permitting-reform.

43. The Federal Government of Germany. (2024). Green hydrogen for the energy transition. https://www.bundesregierung.de/ breg-en/service/archive/green-hydrogen-2312332.

44. Réseau de Transport d’Électricité (RTE). (2025). 2025 Electricity Review. https://assets.rte-france.com/prod/public/2026- 04/2026-04-15-annual-electricity-review-2025-full-report.pdf.

45. Government of France. (n.d.). Multi-year energy plan. https://www.ecologie.gouv.fr/sites/default/files/publications/4pages_PPE_GB_DEF_Web.pdf.

46. S&P Global. (2025). China can meet most 2025 climate targets, except carbon intensity goal: report. https://www.spglobal. com/energy/en/news-research/latest-news/energy-transition/042425-china-can-meet-most-2025-climate-targets-except-carbon-intensity-goal-report#:~:text=Energy%20intensity%20controversies,lifecycle%20emissions%20in%20 cleantech%20sectors.

47. Zawya. (2026). Saudi renewable energy projects total 64 GW. https://www.zawya.com/en/projects/utilities/saudi-renewable-energy-projects-total-64-gw-c0a95gnr.

48. Australian Government: Department of Climate Change, Energy, the Environment and Water. (2025). Rewiring the Nation. https://www.dcceew.gov.au/energy/renewable/rewiring-the-nation.

49. International Energy Agency (IEA). (2025). Czechia 2025. https://www.iea.org/reports/czechia-2025.

50. Ministry of Industry and Trade of the Czech Republic. (2024). The Government has approved the update of the National Energy Plan. It lays emphasis on the development of nuclear energy and renewables. https://mpo.gov.cz/en/guidepost/ for-the-media/press-releases/the-government-has-approved-the-update-of-the-national-energy-plan--it-lays-emphasison- the-development-of-nuclear-energy-and-renewables--285287/.

51. Republic of Kenya: Ministry of Energy & Petroleum State Department for Energy. (2024). National Energy Policy 2025 – 2034. https://www.energy.go.ke/sites/default/files/Final%20Draft_National%20Energy%20Policy%202025_November%202025.pdf; Republic of Kenya. (2023). Kenya Energy Transition & Investment Plan 2023 - 2050. https://www.seforall.org/system/files/2025-05/Kenya-ETIP.pdf.

52. Concha, A. B. (2025). Energy transition in Chile: decarbonization plans with a just transition approach. Ministerio de Energia. https://www.egnret.ewg.apec.org/Upload/202505221731095499fa1.pdf.

53. U.S. Department of Energy. (n.d.). Grid Deployment and Transmission. https://www.energy.gov/topics/grid-deployment-and-transmission.

54. International Energy Agency (IEA). Gas 2025. https://www.iea.org/reports/gas-2025.

55. Miyamoto, M. (2026). Japan’s energy security response is creating a renewables blind spot. Institute for Energy Economics and Financial Analysis. https://ieefa.org/resources/japans-energy-security-response-creating-renewables-blind-spot.

56. Agency of Natural Resources and Energy Japan. (2025). 7th Strategic Energy Plan. https://www.enecho.meti.go.jp/en/ category/others/basic_plan/pdf/7th_outline.pdf.

57. International Renewable Energy Agency (IRENA). (2025). Renewable Energy and Jobs: Annual Review 2025. https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2026/Jan/IRENA_SOC_RE_and_jobs_2026.pdf.

58. Government of India, Ministry of New and Renewable Energy. (2023). National Green Hydrogen Mission. https://mnre.gov.in/en/national-green-hydrogen-mission/.

59. REGLOBAL. (2024). Brazil’s Transmission Outlook: Strategic plan for expanding grid over next decade. https://reglobal.org/brazils-transmission-outlook-strategic-plan-for-expanding-grid-over-next-decade/.

60. Fucuchima, L. (2025). Brazilian energy auction for hydro plants to generate $1 billion in investments. Reuters. https://www.reuters.com/sustainability/boards-policy-regulation/brazilian-energy-auction-hydro-plants-generate-1-billion-investments-2025-08-22/.

61. Ministry of Energy Brazil. (2025). National Energy Transition Policy. https://www.gov.br/mme/pt-br/brazil-world-leader-in-energy-transition/energy-transition/national-energy-transition-policy.

62. Methodological note: In the 2026 ETI, the reliability sub-dimension was updated by replacing the legacy SAIDI and SAIFI indicators with the World Bank’s B-READY Reliability of Electricity Supply measure. The legacy SAIDI and SAIFI data used in the ETI model had last been updated for the ETI 2022 edition; in subsequent editions (ETI 2023–2025), those values were carried forward because no newer globally comparable updates were available. The adoption of the B-READY measure in the 2026 ETI improves data recency and provides a more current basis for assessing reliability performance across countries. As a result, YoY movements in the reliability sub-dimension and the broader security dimension in ETI 2026 should be interpreted with some caution, as part of the change may reflect a data-source transition rather than underlying system change alone.

63. International Energy Agency (IEA). (2026). Electricity 2026: Analysis and forecast to 2030. https://iea.blob.core.windows.net/assets/b73798cb-e452-42b9-9d8a-07542de7a041/Electricity_2026.pdf.

64. International Energy Agency (IEA). (2025). World Energy Statistics – July 2025 edition. https://iea.blob.core.windows.net/assets/2144706e-a521-4353-a9c0-2ff3b170669f/WORLDBES_Documentation_July2025.pdf.

65. U.S. Energy Information Administration. (2025). Amid regional conflict, the Strait of Hormuz remains critical oil chokepoint. https://www.eia.gov/todayinenergy/detail.php?id=65504&utm.

66. Silvestre, I. (2025). Around 20% of global LNG flows through Strait of Hormuz: EIA. Energy Analytics Institute (EAI). https://energy-analytics-institute.org/2025/06/24/around-20-of-global-lng-flows-through-strait-of-hormuz-eia/?utm.

67. International Energy Agency (IEA). (2026). Global Energy Review 2026. https://www.iea.org/reports/global-energy-review-2026.

68. International Energy Agency (IEA). Global Energy Review 2026. https://iea.blob.core.windows.net/assets/ade8ff08-3401-4e0b-9b3b-e8f3988d238e/GlobalEnergyReview2026.pdf.

69. International Energy Agency. (2026). Global Energy Review 2026. https://www.iea.org/reports/global-energy-review-2026/key-findings.

70. Ibid.

71. International Energy Agency (IEA). (2025). Global Energy Review 2025: CO2 Emissions. https://www.iea.org/reports/global-energy-review-2025/co2-emissions.

72. European Commission. (n.d.). Methane emissions. https://energy.ec.europa.eu/topics/carbon-management-and-fossil-fuels/methane-emissions_en.

73. European Commission. (2024). Italy – Final updated NECP 2021-2030 (submitted in 2024). https://commission.europa.eu/publications/italy-final-updated-necp-2021-2030-submitted-2024_en.

74. BloombergNEF. (2026). BloombergNEF Finds Global Energy Transition Investment Reached Record $2.3 Trillion in 2025, Up 8% from 2024 [Press release]. https://about.bnef.com/insights/clean-energy/bloombergnef-finds-global-energy-transition-investment-reached-record-2-3-trillion-in-2025-up-8-from-2024/.

75. World Economic Forum. (2026). Electricity Reinvented: How Innovation is Transforming the Future of Power Systems. https://reports.weforum.org/docs/WEF_Electricity_Reinvented_2026.pdf.

76. BloombergNEF. (2026). BloombergNEF Finds Global Energy Transition Investment Reached Record $2.3 Trillion in 2025, Up 8% from 2024. https://about.bnef.com/insights/clean-energy/bloombergnef-finds-global-energy-transition-investment-reached-record-2-3-trillion-in-2025-up-8-from-2024/.

77. World Trade Organization. (2025). Large increase in new tariffs but also measures to ease global trade, WTO report shows. https://www.wto.org/english/news_e/news25_e/trdev_02dec25_225_e.htm.

78. International Energy Agency (IEA). (2025). Global Critical Minerals Outlook 2025. https://www.iea.org/reports/global-critical-minerals-outlook-2025.

79. Ibid.

80. International Energy Agency (IEA). (2026). Strait of Hormuz Factsheet. https://www.iea.org/about/oil-security-and-emergencyresponse/strait-of-hormuz.

81. Shukla, P. (2026). What’s happening with Brent crude and African crude prices, and why physical oil hits $150 as Europe pays record premiums amid Strait of Hormuz disruption and global supply shock fears. The Economic Times. https://economictimes.indiatimes.com/news/international/us/whats-happening-with-brent-crude-and-african-crudeprices- and-why-physical-oil-hits-150-as-europe-pays-record-premiums-amid-strait-of-hormuz-disruption-and-globalsupply- shock-fears/articleshow/130243265.cms?from=mdr.

82. International Energy Agency (IEA). (2026). Sheltering From Oil Shocks. https://www.iea.org/reports/sheltering-from-oil-shocks.

83. Dempsey, H. and Fildes, N. (2025). Asia turns to coal as Iran war chokes off gas supplies. Financial Times. https://www.ft.com/content/f33e75a0-e64d-4736-867f-e08c741de6ab.

84. Shukla, P. (2026). What’s happening with Brent crude and African crude prices, and why physical oil hits $150 as Europe pays record premiums amid Strait of Hormuz disruption and global supply shock fears. The Economic Times. https://economictimes.indiatimes.com/news/international/us/whats-happening-with-brent-crude-and-african-crudeprices- and-why-physical-oil-hits-150-as-europe-pays-record-premiums-amid-strait-of-hormuz-disruption-and-globalsupply- shock-fears/articleshow/130243265.cms?from=mdr.

85. International Energy Agency (IEA). (2025). Renewables 2025: Renewable electricity. https://www.iea.org/reports/renewables-2025/renewable-electricity.

86. International Energy Agency (IEA). (2025). World Energy Investment 2025. https://www.iea.org/reports/world-energy-investment-2025.

87. International Energy Agency (IEA). (2025). Global Hydrogen Review 2025. https://www.iea.org/reports/global-hydrogen-review-2025.

88. International Energy Agency (IEA). (2025). World Energy Investment 2025. https://www.iea.org/reports/world-energy-investment-2025.

89. BloombergNEF. (2025, 3 November). A Decade After the Paris Agreement, Clean Energy Is Making Strides in Emerging Markets but Investment Gaps Persist, BloombergNEF’s Climatescope Finds. https://about.bnef.com/insights/clean-energy/a-decade-after-the-paris-agreement-clean-energy-is-making-strides-in-emerging-markets-but-investment-gaps-persist-bloombergnefs-climatescope-finds/.

90. International Energy Agency (IEA). Electricity 2026. https://www.iea.org/reports/electricity-2026.

91. World Economic Forum. (n.d.). Innovation Playbook for Future Power Systems. https://initiatives.weforum.org/future-power-system/innovation-playbook.

92. International Energy Agency (IEA). (2026). Electricity 2026: Analysis and forecast to 2030. https://iea.blob.core.windows.net/assets/b73798cb-e452-42b9-9d8a-07542de7a041/Electricity_2026.pdf.

93. Ibid.

94. International Energy Agency (IEA). (2025). World Energy Investment 2025. https://www.iea.org/reports/world-energy-investment-2025.

95. International Energy Agency (IEA). (2025). AI is set to drive surging electricity demand from data centres while offering the potential to transform how the energy sector works. https://www.iea.org/news/ai-is-set-to-drive-surging-electricity-demand-from-data-centres-while-offering-the-potential-to-transform-how-the-energy-sector-works.

96. Ibid.

97. Ibid.

98. BloombergNEF. (2025, 3 November). A Decade After the Paris Agreement, Clean Energy Is Making Strides in Emerging Markets but Investment Gaps Persist, BloombergNEF’s Climatescope Finds. https://about.bnef.com/insights/clean-energy/a-decade-after-the-paris-agreement-clean-energy-is-making-strides-in-emerging-markets-but-investment-gaps-persist-bloombergnefs-climatescope-finds/.

99. International Energy Agency (IEA). (2025). World Energy Investment 2025: Executive summary. https://www.iea.org/reports/world-energy-investment-2025/executive-summary.

100. Ibid.

101. BloombergNEF. (2026). Energy Transition Investment Trends. https://about.bnef.com/insights/finance/energy-transition-investment-trends/.

102. International Energy Agency (IEA). (2025). World Energy Investments 2025: Executive summary. https://www.iea.org/reports/world-energy-investment-2025/executive-summary.

103. European Commission. (2024). Net-Zero Industry Act. https://commission.europa.eu/topics/competitiveness/green-deal-industrial-plan/net-zero-industry-act_en.

104. Government of India, Ministry of New and Renewable Energy. (2023). National Green Hydrogen Mission. https://mnre.gov.in/en/national-green-hydrogen-mission/.

105. Government of Poland, Ministry of Climate and Environment. (2021). Energy Policy of Poland until 2040 (PEP2040). https://www.gov.pl/web/climate/energy-policy-of-poland-until-2040-epp2040.

106. International Energy Agency (IEA). (2025). National Green Hydrogen Strategy. https://www.iea.org/policies/12973-national-strategy-for-green-hydrogen.

107. Saudi Arabia, Vision 2030. (n.d.). Saudi Green Initiative. https://www.vision2030.gov.sa/en/explore/projects/saudi-green-initiative.

108. Government of Kenya, Ministry of Energy & Petroleum. (2023). Energy Transition and Investment Plan (ETIP). https://www.energy.go.ke.

109. Council of the European Union. (n.d.). REPowerEU plan: energy policy in EU countries’ recovery and resilience plans. https://www.consilium.europa.eu/en/policies/repowereu-plan/.

110. European Commission. (n.d.). REPowerEU – 4 years on. https://energy.ec.europa.eu/strategy/repowereu-phase-out-russian-energy-imports/repowereu-4-years_en.

111. International Energy Agency. (2025). International Resource Strategy – National stockpiling system. https://www.iea.org/policies/16639-international-resource-strategy-national-stockpiling-system.

112. Bakshi, P. (2025). Japan's resource security path may hold answers to trade turmoil. The Japan Times. https://www.japantimes.co.jp/commentary/2025/05/05/japan/japan-critical-minerals-supply-chain-strategy/.

113. Impact and Policy Research Institute. (2025). Advancing Renewables Integration Through India’s Green Energy Corridor 2015. https://www.impriindia.com/insights/green-energy-corridor/.

114. Government of India, Ministry of Power. (n.d.). Green Energy Corridor. https://powermin.gov.in/en/content/green-energy-corridor#:~: text=Intra%2DState%20Transmission%20System%20Green,extension%20up%20to%20June%202025.

115. Ibid.

116. European Commission. (n.d.). Clean Industrial Deal. https://commission.europa.eu/topics/competitiveness/clean-industrial-deal_en.

117. The Presidency of the Republic of South Africa. (2023). South Africa’s Just Energy Transition Investment Plan (JET IP). https://justenergytransition.co.za/wp-content/uploads/2024/10/South-Africas-Just-Energy-Transition-Investment-Plan- JET-IP-2023-2027-FINAL-1.pdf.

118. Historical data may change across ETI editions due to the IEA’s raw data collection methodology, which revises earlier provisional estimates once more complete underlying data become available.