The world is facing an unprecedented situation, unlike anything after WWII. The key characteristics are Uncertainty and the convergence of six mega phenomena:

1. A Sustained Pandemic: Covid does not seem to abate, 3rd wave, British variant, problematic availability of vaccines
2. Economics: Huge stimulus sums are being spent but still a bleak forecast for a recovery, outside China
3. Energy trade: an oil price plunge, to even negative territories, is now followed by uncertainty in demand and volatility in oil/gas prices
4. International politics: US/China trade war, Russian political frictions with EU, seeking a balance between energy security, economic and environmental goals in times of energy transition
5. Energy/Environment policies: EU–Green Deal proceeding at full speed, but at the same time China/Asia are ordering new coal plants
6. Disruptive technologies and emerging challenges: cybersecurity issues arise from increasing digitalization (hacking, terrorism & insurance coverage)