Energy Transition Investment Hits Record High Of $1.3 Trillion ...Middle East

Global investments in energy transition technologies, including energy efficiency, hit a record high of $1.3 trillion in 2022, up by 19% compared to 2021 and a massive 50% surge compared to the pre-pandemic 2019, the International Renewable Energy Agency (IRENA) said in a new report on Wednesday. Despite the jump in investments in technologies necessary for the energy transition, investment in renewables—albeit at an all-time high—are still less than 40% of the average investment needed each year between 2021 and 2030 for a scenario…

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