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Energy Transition Drew Record $755 Billion of Investment in 2021

  • Spending surged 27%, driven by electric transport, BNEF says
  • Low-carbon energy needs rapid scale-up to reach climate goals
The biggest share of spending in 2021 went to new renewable energy projects.

The biggest share of spending in 2021 went to new renewable energy projects.

Photographer: Angel Garcia/Bloomberg

Global spending on the transition to low-carbon energy rose by more than a quarter in 2021, driven by the electric vehicle and renewable power sectors.

Total investment reached $755 billion, a jump of 27% from a year earlier, according to a new report from BloombergNEF. The record-breaking figures show how strong investor appetite is for the technologies that are key to preventing the worst effects of global warming.