Info!
UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.

Call to redirect $10tn of fossil fuel investment towards energy transformation by 2030

The International Renewable Energy Agency (IRENA) is calling for some $10tn of fossil fuel investment to be redirected towards energy transformation by 2030, with renewable electricity supplying 57% of global power by the end of the decade, up from 26% today.

According to its latest publication, 
10 Years: Progress to Action annual renewable energy investment needs to double from around $330bn today, to close to $750bn to deploy renewable energy at the speed required advance the global energy transformation, achieve sustainable development goals and a pathway to climate safety. Much of the needed investment could be met by redirecting close to $10tn of planned non-renewables related energy investments to 2030, says IRENA.

News Item details


Journal title: Petroleum Review

Subjects: Banking, finance and investment, Renewables, Climate change, Decarbonisation

Please login to save this item