OECD urges Australia to speed EV and renewables uptake amid fuel shock

The OECD says Australia should respond to the global oil shock by accelerating uptake of electric vehicles and renewable energy. Stefano Scarpetta, the OECD’s chief economist, noted governments have a variety of ways to ease the strain on households, but added: “But this crisis also demonstrates that the need to wean our economies off the dependency on fossil fuel imports is increasingly urgent.” The Paris-based organisation highlighted that Australia is particularly reliant on diesel.

In contrast to the Coalition’s call to expand oil and gas production, the OECD said Australia’s vulnerability to fuel supply disruptions underlines the case for accelerating progress with electric vehicle adoption and renewables generation, with improved grid links and increased storage capacity.

The OECD also supported policies to encourage the supply of new homes in well-located areas.

Australia, Paris

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