Record energy transition investment 'not enough for net zero' – BloombergNEF
Record energy transition investment 'not enough for net zero' - BloombergNEF | Windpower Monthly
Record energy transition investment 'not enough for net zero' – BloombergNEF
Global investment in the energy transition hit record levels in 2023 – though the $1.8 trillion spent is still far short of what is needed to keep the world on track to reach net zero emissions, according to a new report from BloombergNEF.
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Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”