The war in Iran has provided new impetus to the low-carbon transition as renewable energy is seen as less vulnerable to future price shocks, according to a group of corporate bosses and senior bankers. The Energy Transitions Commission (ETC), whose members include executives from ArcelorMittal, HSBC Holdings and Shell, said in a new report that the current Middle East crisis highlights “a structural vulnerability in the global energy system: heavy reliance on geographically concentrated fossil fuel supply and critical transit routes.” By contrast, “clean energy systems are structurally immune to this type of shock,” the group said. The ETC, which is co-chaired by former City of London finance regulator Adair Turner, joins a growing chorus arguing the war in Iran may ultimately strengthen the case for renewables. The conflict, which has disrupted oil supply and pushed up fossil-fuel prices, has set the stage for a wave of investment as governments seek to boost energy independence.…