Clean energy investments are expected to top US$1.4 trillion in 2022, with renewables, energy efficiency, grid infrastructures, and storage accounting for the majority of the spending, and all these sectors are expected to expand this year, according to the report released this week by the International Energy Agency (IEA).
Clean energy investment growth has climbed to 12% since 2020, after averaging just over 2% in the five years after the 2015 Paris Agreement. Although this falls well short of what is required to meet international climate objectives, the IEA said today that it is still an important start in the right direction.
