(MENAFN- AzerNews) By trend
The total amount of investment support that governments have
allocated to clean energy since the start of the Covid-19 pandemic
has reached $1 215 billion, trend reports via the International Energy
Agency (IEA).
The latest IEA report shows that the volume of investments in
this sphere has increased by more than $500 billion since March
This government spending is set to mobilise substantial flows of
private investment, which based on today's policy settings would
raise global clean energy investment by another 50 percent to over
USD 2 trillion annually in 2030.
Reportedly, advanced economies account for nearly 95 percent of
the clean energy investment support that has been allocated
worldwide since the start of the pandemic. Emerging and developing
economies have directed their more limited resources to short-term
measures to keep transport, electricity and cooking fuels
affordable.
The largest increases in clean energy investment in the past
year result from the Inflation Reduction Act in the United States
and by measures enacted by several European countries. The majority
of these funds are earmarked for low-carbon electricity and
incentives for energy efficiency improvements in buildings and
industry. Low-carbon transport infrastructure follows closely
behind, particularly high-speed rail.
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