Energy Transition Drew Record $755 Billion of Investment in 2021
- Spending surged 27%, driven by electric transport, BNEF says
- Low-carbon energy needs rapid scale-up to reach climate goals
The biggest share of spending in 2021 went to new renewable energy projects.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Global spending on the transition to low-carbon energy rose by more than a quarter in 2021, driven by the electric vehicle and renewable power sectors.
Total investment reached $755 billion, a jump of 27% from a year earlier, according to a new report from BloombergNEF. The record-breaking figures show how strong investor appetite is for the technologies that are key to preventing the worst effects of global warming.