Despite a 12% contraction last year in investment in the global energy sector (this reached a figure of USD 1.7 trillion or 2.2% of global GDP), spending on the electricity sector around the world exceeded the combined spending on oil, gas and coal supply. According to the International Energy Agency’s annual report published on Tuesday, 11 July, the share of clean-energy spending reached 43% of total supply investment, a record high.
The uptick in clean energy investment as the result of...