July 20, 2021

LUDDISM ISN'T WORKING:

Global investors pump hundreds of billions into renewables in shift from fossil fuels (Joshua S Hill, 20 July 2021, Renew Economy)

A total of $US501 billion ($A683 billion) was invested in the clean energy sector in the last financial year, an increase of 9% over the previous year and a new record level of clean energy investment.

Unsurprisingly, the renewable energy segment of the clean energy sector led the way with $US303 billion ($A413 billion), accounting for 60% of total investment committed towards the global low carbon energy transition.

These are the headline findings from a new report published on Monday by the Institute for Energy Economics and Financial Analysis (IEEFA) entitled Global Investors Move into Renewable Infrastructure.

The report highlights not only the record level of investment attracted by the low carbon energy transition, but also demonstrates the insistent move away from investing in fossil fuel projects caused by the threat of exposure to climate-related risks and the volatility in fossil fuel pricing and demand.

Hating environmentalists isn't actually good economics?  Who knew?
Posted by at July 20, 2021 12:00 AM

  

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