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Boom! We need more, twice as much! Global spending on the clean-energy transition hit record highs as the world moves to rein in climate change, but it’s still not enough to get on track to net-zero emissions. The world needs to be investing more than twice as much in clean technology in order to reach net-zero emissions by mid-century, according to BNEF. Total spending surged 17% last year to $1.8 trillion, according to a report Tuesday from BloombergNEF. These include investments to install renewable energy, buy electric vehicles, build hydrogen production systems and deploy other technologies. Add in the investments in building out clean-energy supply chains, as well as $900 billion in financing, and the total funding in 2023 reached about $2.8 trillion.

As the global energy transition quest makes new inroads, the #green shift is gaining more ground with spending on such technologies eclipsing the sum being poured into fossil fuels by a considerable margin. With improving supply chains and lower costs for clean technologies putting #wind in its sails, the total #energy #investment worldwide is forecasted to surpass $3 trillion in 2024 for the first time. As a result, clean energy technologies and infrastructure are poised to hit $2 trillion in 2024, which is double the amount going to coal, oil, and gas. Click here to read more.... #renewableenergy #climatechange #sustainablefuture #decarbonisation #netzero #iea

🌍 Is Net Zero by 2050 Still Possible? Yes, But It’ll Cost 19% More 🌍 There's no time to waste, it's only going to get harder. We have every incentive to make this happen sooner rather than later. A new Bloomberg report reveals that achieving global climate goals is becoming increasingly challenging as the world remains dependent on fossil fuels. Key Insights from the Report: 💸 Investment Needs: An additional $34 trillion is required for the clean energy transition by 2050, marking a 19% increase over the base case scenario. 🚗 Sector Impacts: Significant investments are needed in electric vehicles, renewable energy, power grids, and carbon capture technologies. 🌱 Renewables & Infrastructure: Every new car sold from 2034 onwards needs to be electric, and power grid projects will require peak investments of $1 trillion per year in the 2040s. 📉 Climate Impact Costs: Failure to cut emissions could result in annual global economic costs ranging from $19 trillion to $59 trillion by 2050 due to extreme weather events. 🔋 Energy Future: The era of fossil fuels is ending, with renewables potentially exceeding 50% of the global electricity mix by the end of the decade. #NetZero #CleanEnergy #ClimateChange #Sustainability #BloombergNEF #RenewableEnergy #ElectricVehicles #CarbonCapture #PowerGrid #Investment #GlobalWarming #ClimateGoals

Have you heard about the global battery boom? In 2023, battery growth outpaced nearly all other #cleanenergy technologies, as reported by the International Energy Agency. With batteries playing a pivotal role in today's global #energy landscape, they are set to become indispensable in facilitating secure clean energy transitions. The IEA's Special Report underscores the crucial part batteries will play in meeting the ambitious 2030 commitments made by almost 200 countries at COP28, aiming to steer the world towards #netzero emissions. At ENGIE we aim to foster connections between society and organizations with clean, affordable, innovative, and resilient energy solutions and infrastructure. Learn more: https://lnkd.in/dXfSMv6y

What will it take to revolutionise our energy systems? As we grapple with escalating climate change, our reliance on fossil fuels is under scrutiny. Since 1950, CO2 emissions have surged from 6 billion tons to a staggering 36 billion tons annually. The International Energy Agency (IEA) latest report calls for an unprecedented shift to clean technology and renewable energy, aiming for net-zero emissions by 2050. But can we wait that long? Dive into the first of a three-part series and discover the challenges and opportunities ahead in transforming the global energy system. Explore the bold strategies and urgent actions proposed to accelerate this transition and redefine our energy landscape. Learn about the critical steps needed to secure a sustainable future. Learn more: https://lnkd.in/eftR86r5 #ExpertsInConversation #NetZero #CleanEnergy 

Despite global investments in the low-carbon energy transition surging 17 % in 2023 to $1.8 trillion, according to research group BloombergNEF,  the public and private sector would need to spend a whopping $34 trillion more on the clean energy transition between now and 2050 to hit net-zero emissions. #EPM

Both myself and Langdon Morris are delighted that World Built Environment Forum are able to share insights from our book, NetZeroCityBook in a series of excerpts on their #Knowledge #Network. COP28 UAE COP29 Azerbaijan Dr. Sultan Al Jaber Eng. Maitha Alblooshi Ministry of Environment, Urbanization and Climate Change Ministry Of Economy, UAE #sustainability #uae #energytransition #AecomMiddleEast Cityscape Intelligence Bilbao Metropoli 30

Join the conversation on transforming the global energy sector with the latest insights from the IEA! Discover how achieving the ambitious goals set at COP28 can revolutionize our energy future. 🌍⚡️ #RenewableEnergy #EnergyEfficiency #SustainabilityGoals https://lnkd.in/ePky6uv7 #SolarPower #RenewableEnergy #GreenTech #SustainableLiving #EcoFriendlyInnovation

The current phase of rapid change in new energy development is sparking interest worldwide, seen as pivotal for sustainable growth. Clean energy technologies like solar, wind, and hydrogen are evolving swiftly, costs decreasing, and applications diversifying. Global worries over climate change are amplifying, fueling policy backing and market need, hastening new energy's widespread adoption. #CleanEnergy #SustainableDevelopment #RenewableEnergy

#EnergyManagement is steadily becoming a strategic element on the agenda of operators within the #OilAndGas industry. After decades of relatively cheap and abundant #energy, the sector is now facing disruption from stringent #EnvironmentalLegislation and #NetZeroTargets, as well as an urgency to reduce #OperationalCosts. As the global investment climate continues to encourage #LowerEmissions, companies are directing their focus on reducing energy costs and optimising their energy consumption for lower emissions. https://lnkd.in/gMeZExVu