Spending has increased on low-carbon energy
Low-carbon spending ratio must quadruple – BNEF
Expenditure must increase dramatically in comparison with cash going to fossil fuels if nations are to meet goals of the Paris Agreement
Energy supply investment must rise from $1.6tn/yr currently to as much as $3.8tn/yr for the world to meet the goals of the Paris Agreement, according to a study by research organisation BloombergNEF (BNEF). And the ratio of spending on low-carbon energy versus fossil fuels must increase dramatically from 0.9/1 in 2022 to 4/1 over 2022-30, meaning for each dollar spent on fossil fuels, four would need to be spent on low-carbon technologies. This ratio would need to rise to 7/1 over 2031-40 and 11/1 over 2041-50. The ratio was 0.5/1 in 2011-15 and 0.7/1 over 2016-20. “The next three decades will require significant investment in the energy sector to reach either net- zero or limit the temperat
Also in this section
19 December 2024
The utility-scale battery energy storage system market is evolving rapidly, with diverse offtake models emerging to offer bespoke, flexible contracting solutions
13 December 2024
Prices in world’s largest compliance market have risen this year but remain below those seen in the EU
11 December 2024
Policymakers need to step up with a long-term, global strategy if the energy transition is ever to be a success
11 December 2024
CCUS and other carbon management technologies are gaining traction around the world, but heightened policy risk and other pressures will make 2025 a challenging year in some regions
