Low-carbon vitality funding hit report $2.1 tn in 2024: report
by AFP Employees Writers
Paris (AFP) Jan 30, 2025
International funding within the transition to low-emission vitality grew to a report $2.1 trillion final yr, in accordance with evaluation by BloombergNEF, however vastly extra is required to fulfill worldwide local weather objectives.
Funding worldwide was up 11 p.c on 2023 with China accounting for two-thirds of the rise, far eclipsing spending in Europe and the USA, in accordance with the Power Transition Funding Traits 2025 report.
Electrical autos, renewable vitality and energy grids all attracted report funding final yr, BNEF discovered.
“Our report reveals simply how a lot progress we have seen within the vitality transition over the previous few years, regardless of political uncertainty and excessive rates of interest,” mentioned Albert Cheung, deputy chief of BNEF, including that rather more must be finished.
BNEF discovered that world vitality transition funding would want to common $5.6 trillion annually from 2025 to 2030, to get the world decarbonising quick sufficient to fulfill the Paris local weather deal’s targets.
On that entrance, China is closest to being on observe, BNEF mentioned, adopted by Germany and the UK.
China accounted for $818 billion of funding final yr, up 20 p.c from 2023, in accordance with the evaluation, with all sectors reviewed “displaying strong progress”.
The nation’s complete funding was larger than the US, EU and UK mixed, BNEF mentioned.
Final yr the Worldwide Power Company mentioned practically $2 trillion in investments had been flowing yearly into clear vitality tasks, practically double the quantity spent on fossil gasoline provides.
Its World Power Outlook report mentioned that greater than half of the world’s electrical energy shall be generated by low-emission sources earlier than 2030, with demand for oil, gasoline and coal nonetheless projected to peak by the tip of the last decade.
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