Green Investments Hit $2 Trillion Worldwide

Markus Spiske Pexels

According to the IEA’s new study, “Investment in clean energy this year is set to be twice the amount going to fossil fuels.” The authors wrote, “Clean energy technologies and infrastructure should reach $2 trillion this year.” The total investment in energy will be $3 trillion, so investment in fossil fuels will be modest. China will be the growth engine, with investments totaling $675 million.

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Much of the Chinese investment is due to government financial support, so it should not be considered with other national investments. In other nations, government regulations have been strong. Enforcement, however, has been light. 

President Biden View

Even President Biden has admitted that fossil fuels are essential to fulfilling global energy needs. Oil company executives have said their drilling plans will rise as demand flourishes. 

Climatecrisis247 believes that the analysis included a warning that the costs of renewable energy remain high, and emerging markets have almost no capital. This has been the case for years. Government investment could be better despite promises of capital. 

The high cost of investment has hindered access to private sector money. This has been particularly true with wind energy, which has had problems expanding. As the climate crisis gets worse, the pace of alternative energy investment has to be faster to fight what is already an immense and fast-growing problem.

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