IEA: Global energy investment to increase 8% in 2022

sxcoal.com Environmental Protection 2022-06-24 09:37:06

International Energy Agency (IEA) expected the global energy investment to increase 8% year on year to $2.4 trillion in 2022, mainly driven by the growth in the clean energy and power grids as well as improving energy efficiency, according to its "2022 Global Energy Investment Report" on June 22.


In 2022, global clean energy investment is expected to reach 1.4 trillion, according to the report.


However, the IEA warned the global investment is still far from enough to meet climate change targets, especially after the Russia-Ukraine conflict that pushed up global energy prices and resulted in reinvestment in coal supply.


Europe needs to be ready for the possible energy crisis if Russia cuts off gas supply, Fatih Birol, head of the International Energy Agency (IEA), said.


The EU has approved to ban oil and coal imports from Russia, but delayed to take powerful actions on gas supply from the country.


In addition, Birol also stressed if the energy system does not transition to clean technologies, the investment in fossil fuels will not be able to meet growing energy demand and, more importantly, achieve climate goals.


(Writing by Alex Guo  Editing by Tammy Yang)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

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