Investments in the energy transition rose sharply last year to reach new records, driven by China and electric mobility, according to a report published Thursday by BloombergNEF (BNEF).
These investments totaled $755 billion, up 27% from 2020, the research firm said in an annual report. With the sole exception of CO capture and storage2 (CCS), they have made progress in all areas: renewable energies, storage, electric mobility, nuclear, hydrogen, etc.
Renewables (wind, solar and others) remain the top sector for investment and attracted $366 billion last year, up 6.5%. Electric mobility, for its part, jumped to 273 billion (+77%) with the explosion in the sale of electric vehicles.
By region, Asia represents half of the investments and China once again occupies the highest step of the podium, with a total of 266 billion dollars devoted to the transition in all its forms.
“The 27% increase in investment in the transition in 2021 is an encouraging sign that investors, governments and businesses are more committed than ever to the low-carbon transition and see it as part of the solution to the current turmoil in the world. energy market,” commented Albert Cheung, Head of Analytics at BNEF.
Despite the sums already mobilized, it will however be necessary to go much further and to triple the annual investments over the years 2022-2025 to stay on the track of carbon neutrality in the world by 2050, underline the authors. They will then have to be doubled again over the years 2026-2030 to reach some 4200 billion annually.