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Energy has become a focal point of global policymaking.Bridging the gap between the public and private sectors is vital to finance the construction of an efficient global energy system.The EU's Connecting Europe Facility has allocated $7.2 billion from now until 2020 to help kick-start private investment in infrastructure projects linking member countries' energy systems.Energy projects and policies today must account for the projected increase in emerging-market demand, while ensuring sufficient investment in future generating capacity.For example, over the next 25 years, 60 percent of the EU's generating capacity is due to retire – contributing to demand for $2.2 trillion of energy investment. Repackaging the same old strategies – here one need look no further than European Commission President Jean Claude Juncker's much-hyped $373 billion investment package – simply will not work.With attention focused on COP21 next December, the coming year will be an exceptional opportunity to build a sound global energy system. Europe, which has prided itself on its energy leadership, should set an example by developing – and then implementing – a realistic long-term strategy that involves the private sector.
The twilight of the global order
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