September 19, 2021

Energy transition is happening but not fast enough to limit the global average temperature rise to 1.5 °C. Power investment will need to rise to help the world achieve the Paris Agreement goals. Compared with the average annual investments projected in the International En­er­gy Agency’s (IEA) Sustainable Development Scenario, the global power sector spending in 2019 was about 35 per cent short of the level required a decade from now. The year 2020 also witnessed lower investment due to the Covid-19 pandemic.

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