$1.45 trillion green investment matches fossil fuels for first time

with US$466 billion, and the amount invested in them worldwide is growing far faster, at 54 per cent.

Nearly half of all global energy transition investments – US$546 billion – were in China, while the US came in second at US$141 billion. The US$1.1 trillion covers money invested in deploying clean-energy technologies, according to BNEF. It does not include US$274 billion spent worldwide last year on expanding and strengthening power grids, US$79 billion invested in clean-energy supply chains and manufacturing or US$119 billion in equity financing raised by clean-tech companies. Added together, the amount invested in the transition rises to about US$1.6 trillion.

That clean power investments essentially tied those in fossil fuels is notable considering investments in those older, polluting energy sources rose in 2022. Driven by high fuel prices, worldwide investment in the sector climbed a substantial US$214 billion, according to BNEF. BLOOMBERG

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