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Coal investments set to rise 10% this year as nations fret over energy security

CNBC · Anmar Frangoul · last updated

Global energy investment is on course to jump by more than 8% in 2022 and hit $2.4 trillion, with a notable uptick for coal supply chains, but far more money will be required if climate-related goals are to be met, according to the International Energy Agency.

Published Wednesday, the latest version of the IEA’s World Energy Investment report said clean energy investment is set to exceed $1.4 trillion this year and account for “almost three-quarters of the growth in overall energy investment.”

While the agency welcomed this, it pointed to the huge amount of work that lies ahead.

“The annual average growth rate in clean energy investment in the five years after the signature of the Paris Agreement in 2015 was just over 2%,” it said.

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