Despite seemingly endless downbeat news about green investments worldwide, global spending on the energy transition reached a record $2.3 trillion last year — and has further yet to go: That’s according to BloombergNEF research published this week.
Overall, investments related to electrified transport made up the biggest single chunk, but a wide variety of categories — including the deployment of clean tech and the expansion of the green supply chain, as well as equity investments in climate-tech and borrowing for the energy transition — ticked up.
Even investments in the US rose 3.5%, despite policy rollbacks, trade restrictions, and broader tensions. More spending is on the way: BloombergNEF projects annual investment in the energy transition worldwide will grow to $2.9 trillion in five years.
