Last year, global investment in clean energy passed $1 trillion—for the first time matching the amount invested in fossil fuels
ast year was a double milestone for decarbonizing the world’s energy system. It was the first year when investment in the energy transition equaled global investment in fossil fuels, according toThe money flowing into the upstream, midstream and downstream segments of oil and gas, and into fossil fuel-fired power generation without emissions reduction technology, was $1.1 trillion last year.
BNEF tracks six other sectors in the energy transition, and all but one of them also set annual investment records last year.received $6.3 billion in 2022 and hydrogen a little over $1 billion. However, both grew significantly in relative terms: Carbon capture investment almost tripled while hydrogen investment more than tripled. Both technologies have made big promises in the past half-decade, and investment is now following.
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