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