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The past year, 2022, represented a pivotal shift in the volume of green investments provided for projects to transition from fossil fuels. As total financing recorded a value of $ 1.1 trillion, an increase of 31% on an annual basis, according to an analysis conducted by Bloomberg.
The analysis stated that, for the first time, the volume of investments allocated to renewable energy projects, electric cars, and sustainable energy sources, such as hydrogen, exceeds the value of one trillion dollars.
Solar energy and wind energy accounted for the lion’s share of the investments that were pumped into the renewable energy sector during 2022; As the total investments in them recorded a value of $ 495 billion, an increase of 17% over the previous year 2021.
They are followed by the electric car sector in second place, with an investment value of $466 billion worldwide in 2022, with a growth rate of 54% on an annual basis.
On the other hand, China alone accounted for half of the global investments destined for the transition to renewable energy, providing total financing amounting to 546 billion dollars, while the United States came in second place, recording a value of 141 billion dollars.
Inspite of that; All countries still need to provide more support for green investments. Efforts to combat global warming and reduce greenhouse gas emissions should be intensified.
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