Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Savory and Partners: Surge in demand for second passports as displacement fears at a high

    September 23, 2023

    SHEIN TO PRESENT FALL/WINTER 2023 COLLECTIONS THROUGH LIVESTREAM FASHION SHOW, SHEIN LIVE: FRONT ROW

    September 22, 2023

    Huawei Connect TECH4ALL Summit Explores How Technology and Partnerships Enable Inclusion and Sustainability

    September 22, 2023
    Facebook X (Twitter) Instagram
    UAE ReporterUAE Reporter
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    UAE ReporterUAE Reporter
    Home » Spending by governments on clean energy transitions rises to $1.2 trillion
    Business

    Spending by governments on clean energy transitions rises to $1.2 trillion

    December 10, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email

    As the global energy crisis spurs new policies aimed at cutting reliance on fossil fuels, global government spending on clean energy has risen by more than $500 billion since March, according to the IEA. With this increase, governments have allocated $1 billion to clean energy investment since the COVID-19 pandemic started. IEA’s Government Energy Spending Tracker, which includes 1600 government financial measures passed by 67 countries since March 2020, shows that government energy spending has reached $215 billion.

    Spending by governments on clean energy transitions rises to $1.2 trillionBased on today’s policy settings, this government spending will mobilize substantial flows of private investment that will reach over USD2 trillion by 2030. Nearly 95% of the clean energy investment support that has been allocated worldwide since the pandemic began has come from advanced economies. Transport, electricity, and cooking fuel prices have been kept affordable in emerging and developing economies by using their more limited resources.

    The Inflation Reduction Act in the United States and measures enacted by several European countries have resulted in the most significant increases in clean energy investments in the past year. Incentives for energy efficiency improvements in buildings and industry are earmarked for the majority of these funds. The development of low-carbon transport infrastructure, especially high-speed rail, follows closely behind.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email

    Related Posts

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 11, 2023

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023

    Biden and Modi cement ties as India ascends global stage

    September 9, 2023

    Digital work revolution sees the world’s gig economy expand by 12 percent

    September 8, 2023
    Latest News
    Business

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    Business

    At the Bharat Mandapam in New Delhi, the curtains have come down on the 18th…

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023

    Biden and Modi cement ties as India ascends global stage

    September 9, 2023

    UN calls for greater female representation in police forces worldwide

    September 8, 2023

    Digital work revolution sees the world’s gig economy expand by 12 percent

    September 8, 2023

    AI drives MENA Newswire’s entry into Saudi digital media

    September 8, 2023

    ASEAN Summit in Jakarta sees PM Modi advocating India’s growing global impact

    September 7, 2023

    Air Canada faces backlash as passengers evicted for refusing vomit-soaked seating

    September 7, 2023
    © 2021 UAE Reporter | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.