Climate love
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IEA

Climate love

Solar investments to outpace oil for the first time in 2023

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The graph speaks for itself but investors around the world are making a powerful statement as solar power is getting more funding than oil production this year, marking a remarkable shift towards a low-carbon economy! The International Energy Agency (IEA) reports that over $1.7 trillion will be invested in clean-energy technologies, surpassing fossil fuel investments by around $1 trillion. Clean energy spending is set to grow by 24%—faster than fossil fuels at 15%. This surge is driven by solar panels and electric vehicles, leading the charge against climate change.
While this progress is good news, we need to double our annual investments by 2030 to stay on track for limiting global warming to 1.5°C and fossil fuel investment, especially in coal, must decline sharply to achieve the IEA's net-zero emissions vision.




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  • BITASSA Eyabanè

    45 w

    Je suis vraiment aligné dans la droite ligne des énergies renouvelables

    • Damodar Prabhu Panemangalore

      47 w

      So, the lot of hard work which went into bringing the financial institutions to think green is baring fruits

      5
      • winnie nguru

        47 w

        Really encouraging

        2
        • dickson mutai

          47 w

          Sustainable energy production all the way

          4
          • Kevin

            47 w

            This is a smart trend

            5
            • Adam Wallin

              47 w

              It makes sense, happy to see the finances starting to catch up with the real world.

              7
              • Peter Karanga

                47 w

                This is excellent news for the renewable energy sector and the global economy as a whole. With this transition, we can expect to see a surge of investment in solar technologies, and a sharp decline in dependence on oil. This shift could be critical in helping to reduce global emissions and create a more sustainable future.

                4
                • Mc Kaka

                  47 w

                  Why is oil still high

                  6
                  • We Don't Have Time

                    47 w

                    Dear Sarah Chabane Thank you for getting your climate love to level 2! We have reached out to IEA and requested a response. I will keep you updated on any progress! /Adam We Don't Have Time

                    6
                    • mercy nduta

                      47 w

                      Renewable energy can play a huge role in reducing negative environmental effects if used widely.

                      9
                      • George Kariuki

                        47 w

                        It's truly remarkable to witness the significant shift in investment trends towards clean energy.

                        10
                        • Jane Wangui

                          47 w

                          @george_kariuki it is a significant shift # clean energy

                          5
                        • Edwin wangombe

                          47 w

                          Renewable energy will always be the best option... It's great that this is now being evidenced practically compared to when it was all theory

                          9
                          • Richard Orengo

                            47 w

                            A shift towards a low-carbon economy is remarkable.

                            8
                            • Daniel Waweru

                              47 w

                              Great progress

                              10
                              • Peter Kamau

                                47 w

                                This is so encouraging

                                14
                                • Munene Mugambi

                                  47 w

                                  This should be the trend onwards

                                  22
                                  • Tabitha Kimani

                                    47 w

                                    10 years have made a huge difference and this serves to encourage everyone involved in solving the climate crisis. Surely We Can Do It.

                                    23
                                    • Patrick Kiash

                                      47 w

                                      I love that, this one is speaking volumes.

                                      10
                                      Welcome, let's solve the climate crisis together
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