'Not a cost, but a choice': How redirecting the $6tr earmarked for new fossil fuel projects could fill the clean power investment gap

Michael Holder
clock • 6 min read
Credit: iStock
Image:

Credit: iStock

New research warns around $2tr investment each year - double current trends - is needed to deliver on the COP28 goal of tripling global renewables capacity by 2030

The world needs to double its annual investment in renewables to $2tr a year throughout the remainder of the decade if it is to triple global renewables capacity by 2030, as agreed by governments at last...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Investment

Climate finance still treats women as a risk - but the real risk is continuing to overlook them

Climate finance still treats women as a risk - but the real risk is continuing to overlook them

Too often women are framed primarily as those most vulnerable to climate risk rather than as builders of climate resilience, writes Project Dandelion co-founder Ronda Carnegie

Ronda Carnegie, Project Dandelion
clock 13 March 2026 • 5 min read
Inter IKEA Group backs biomaterials innovator Seprify

Inter IKEA Group backs biomaterials innovator Seprify

Swiss start-up completes €13.4m funding round to support plans to replace titanium dioxide with bio-based and planet friendly alternative

clock 12 March 2026 • 2 min read
London Stock Exchange launches new suite of ESG scores

London Stock Exchange launches new suite of ESG scores

New sustainability analytics to be integrated across a range of London Stock Exchange Group platforms

BusinessGreen staff
clock 09 March 2026 • 2 min read