CO2 QUOTE Closing from Cierre del 19-06-2024 68,93 €/T

Lack of capital is not the problem in meeting the Net-Zero bill

Crises show that you can increase funding and encourage investment when something is seen as a priority, BloombergNEF believes.

Climate change won’t be a cheap problem to solve, as the race to net-zero emissions will require spending $4.8 trillion each year between now and 2030 on clean energy technologies. But considering that this figure is only a fraction of global GDP, the challenge is not whether the world has enough money, but whether it can be mobilized to go to the right places. Global investment and spending on the energy transition has been gaining momentum and has nearly increased six-fold over the past decade, according to an analysis by BloombergNEF. But the record $1.8 trillion deployed last year was still just 1.7% of global GDP, behind other key sectors of the economy (see chart 1).

Continue reading news in El Periódico de la Energía