Continued growth in clean energy investment: $1.8 trillion in 2023

Global investment in clean energy has grown by 17% and will reach $1.8 trillion in 2023, Azernews reports, citing BloombergNEF.

The report, Trends in Transition Investments 2024, says renewable energy, electric vehicles, hydrogen, and carbon capture and storage technologies are driving investment growth.

Leading the way is China with investment of $676 billion in 2003, 38% of the global total. Together the EU, US and UK invested more than China in 2023 - for the first time since 2022.

Investment in clean energy supply chains globally reached $135 billion in 2023 and could rise to $259 billion by 2025.

BloombergNEF expects clean energy investment to continue to grow. They are projected to reach $7.5 trillion by 2030. This is due to a number of factors, including policy incentives and technological innovation.