The International Energy Agency calls for an accelerated transition to clean energy

According to the latest annual “World Energy Investment Report” (hereinafter referred to as the “Report”) released by the International Energy Agency on June 22, the total global energy investment is expected to increase by 8% in 2022, of which the main growth comes from clean energy, but It is still not enough to solve the current multi-dimensional energy and climate problems. We should continue to increase investment, improve energy efficiency, and speed up the transition to clean energy.

The report data shows that in the context of the global energy crisis, total global energy investment is expected to increase by 8% to US$2.4 trillion in 2022, exceeding the level before the outbreak of the new crown pneumonia. Among them, investment in clean energy is expected to exceed $1.4 trillion, accounting for nearly three-quarters of the overall growth in energy investment.

But the report also pointed out that almost half of the increase in capital expenditures in overall energy investment growth is related to rising costs, and the current growth rate of investment to promote clean energy development is still not enough to curb soaring energy prices or meet global climate goals. At the same time, due to the rising pressure on energy supply, some countries have also increased investment in fossil fuels to ensure their own energy security. According to the report, investment in global coal supply will grow by 10% to $105 billion in 2021 and is expected to grow by another 10% this year.

“Accelerating the clean energy transition by significantly increasing investment is the only lasting solution.” Fatih Birol, executive director of the International Energy Agency, said on the 22nd that clean energy investment needs to increase at a faster rate to alleviate High fossil fuel prices are putting pressure on consumers to make the energy system more secure and on track to meet climate goals.

Reducing the burden on consumers has become a top policy priority in many countries. In 2022, the total energy bills paid by consumers around the world could exceed $10 trillion for the first time, the report said. This will hit the poorest parts of the country particularly hard and will increase pressure on governments to cushion the impact on consumers through fiscal measures and price intervention.