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Global spending on energy transition nears $1 trillion

Andrew Freedman reports for Axios that global spending on the energy transition has neared $1 trillion.

The C3 Take
  • Last year the world invested $920 billion in clean energy innovation and deployment, a new record.
  • The sector that had the largest increase in investments was electric vehicles, which saw a 77% jump from the previous year.
  • While this spending is certainly impressive, many experts believe that clean technology investments will need to increase substantially in order to meet decarbonization goals by midcentury.

“The world invested $920 billion in clean energy deployment and innovation in 2021, a record high. However, in order to meet the goal of net-zero emissions by 2050, this figure must at least triple in the next few years, warns a report out Thursday from BloombergNEF.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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