Commodities Buzz: Global Energy Investment Set To Spurt 8% In 2022 Says IEA

22 Jun 2022 , 04:49 PM

Global energy investment is set to increase by 8% in 2022 to reach USD 2.4 trillion, with the anticipated rise coming mainly in clean energy, according to a new report by the International Energy Agency. Although encouraging, the growth investment is still far from enough to tackle the multiple dimensions of todays energy crisis and pave the way towards a cleaner and more secure energy future. The fastest growth in energy investment is coming from the power sector – mainly in renewables and grids – and from energy efficiency, according to the IEAs World Energy Investment 2022 report. The rise in clean energy spending is not evenly spread, however, with most of it taking place in advanced economies and China. And in some markets, energy security concerns and high prices are prompting higher investment in fossil fuel supplies, most notably on coal.Powered by Commodity Insights