At $1.1 trillion, renewable energy investment matches fossil fuels in 2022 for 1st time: BloombergNEF https://www.downtoearth.org.in/news/energy/at-1-1-trillion-renewable-energy-investment-matches-fossil-fuels-in-2022-for-1st-time-bloombergnef-87355 The hydrogen sector received least boost at $1.1 billion but the sector grew the fastest, tripling investment every year Seema Prasad Friday 27 January 2023
Investment towards energy transition grew by $261 billion from the previous year — a 31 per cent increase from 2021. But the investment in fossil fuels was also simultaneously up $214 billion over 2021 levels....“The growth in fossil fuel investments in 2022 occurred against the backdrop of high commodity prices, with many oil and gas majors earning record profits. Increased climate awareness has, however, made these companies more focused on share buybacks and diversifying to lower-carbon assets,” the researchers explained.