Global investment in the energy transition grew by 27% in 2021, hitting a new record of $755bn, as countries stepped up their climate policy agendas, according to a report from research company BloombergNEF.
Investment rose in almost every sector, including renewable energy, energy storage, electrified transport, electrified heat, nuclear, hydrogen and sustainable materials – with only carbon capture and storage (CCS) recording a fall. Together, clean power and electrification accounted for $731bn, with hydrogen, CCS and sustainable materials making up the remaining $24bn.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
Renewable energy – including wind, solar and other renewables – received the most investment, hitting a new record of $366bn in 2021, up 6.5% from the previous year. Electrified transport, which includes spending on electric vehicles (EVs) and associated infrastructure, came in second with $273bn invested. With EV sales surging, the sector grew at a breakneck rate of 77% in 2021, and could overtake renewable energy in dollar terms in 2022, according to the Energy Transition Investment Trends 2022 report.
Despite its booming fossil-based power sector, Asia-Pacific was both the largest region for clean investment, at $368bn – accounting for nearly half the global total – and the region with the highest growth, at 38%. Investment in Europe, the Middle East and Africa grew by 16%, reaching $236bn, while the Americas saw investment grow by 21% to $150bn.
