Her predatory combination energy And her climate crisis appears to have spurred the economy, business and investors to drastically increase investment in clean energy. At least that’s the picture that emerges from a BloombergNEF report titled “Energy Transition Trends in 2023”, in which investment in clean energy has grown significantly amid the energy crisis, and last year was equal to investment in fossil fuels for the first time. According to data compiled by BloombergNEF, funds invested worldwide in the transition to clean energyincluding renewable energy, electric vehicles, as well as new forms of energy such as hydrogen, increased last year in part due to the rising cost of fossil fuels and reached 1.1 trillion. dollars in 2022. Thus, investments in fossil fuel extraction reached the same amount as last year.

This means that investments in clean energy have increased by 31% compared to the previous year, although, of course, this is only a small part of the funds needed to radically reduce emissions and overcome the climate crisis. Solar and wind energy projects took the lion’s share, as investments in these two renewable energy sources reached $495 billion, up 17% from 2021.

Investment in electric vehicles followed suit, reaching $466 billion. The electric vehicle sector is clearly attracting much more interest from investors and businesses as investment in this sector has increased significantly compared to others. by 54% compared to 2021. The BloonbergNEF study also shows that almost half of the energy transition investment, a $546 billion capital, was made in energy-intensive and highly polluting China, ahead of the green energy transition. In contrast, the US has not significantly increased investment in this sector and is in second place, but by a significant margin, investing only $141 billion in clean forms of energy.

China is the clean energy investment champion, followed by the European Union in second and the United States in third.

As noted by Bloomberg, if the European Union were viewed as a whole, it would rank second with $180 billion in clean energy investment. The amounts shown in the related BloombergNEF report refer strictly to clean energy investment and do not include associated costs. such as the cost of expanding and reinforcing electricity transmission networks, which reached US$274 billion worldwide last year.

Not even counting the $79 billion invested in clean energy supply chains and the clean energy production sector, which totaled $119 billion. All of this together, investments in the extremely complex and costly energy transition reached $1.6 trillion last year. . dollars.