S&P Global: Lower Oil Imports Cut Oil-Shock GDP Hit by 0.25 Points
Antalya – November 12, 2026 -- Countries that depend less on oil imports reduce the GDP impact of oil supply shocks by around 0.25 percentage points, according to a new S&P Global report released during COP31. Higher import dependence is associated with an extra 0.25-point GDP loss two years after a shock.
The report, Adopting Clean Technologies: The Energy Resilience Dividend, combines analysis from S&P Global Energy and S&P Global Ratings under the S&P Global Institute. It covers nine advanced economies, with case studies of Europe and China.
Europe's renewables build-out reduces exposure to energy shocks
EU non-hydro renewable generation is up nearly 340 terawatt-hours since 2021. That is 70% more than the 2016-2021 increase. European clean tech investment in 2026 is expected to more than double 2021 levels.