Mining Industry Needs $2.1 Trillion Dollars in New Investment by 2050 to Meet Net-Zero Demand for Raw Materials, Finds BloombergNEF in New Report
The Transition Metals Outlook 2024 finds that the cost of clean energy technologies could rise without an urgent investment in metals supply to address looming deficits. NEW YORK – October 3, 2024 – Despite the growth in metals supply over the last decade, BloombergNEF’s (BNEF’s) annual Transition Metals Outlook finds that there are still not […]
$2.2 Trillion in Investment Over 10 Years Can Put Japan on a Trajectory to Net-Zero, BloombergNEF’s New Energy Outlook: Japan Shows
Tokyo, September 30, 2024 – Japan will need investment of about ¥320 trillion ($2.2 trillion) over the next decade if it is to stay on course to reach net-zero by 2050, according to BloombergNEF’s (BNEF’s) New Energy Outlook: Japan, a follow-up to the research provider’s New Energy Outlook 2024 released in May. The new report […]
BloombergNEF: US Falling Behind on its Climate Goals; Faster Adoption of Low-Carbon Technologies Needed to Get it on Track
• US set to cut just 22% of its emissions by 2030 at its current pace of decarbonization, rather than the 50% required to be on track to meet its Paris Agreement goals • Net zero in the US by 2050 requires 20% more investment than what’s seen in BNEF’s base case • Electrification emerges […]
Renewables Off Pace for Global Tripling, but the Goal Is Still Within Reach
● Following a record $623 billion being invested in renewables in 2023, BNEF estimates this must climb to an average of $1 trillion per year (in 2023 dollars) between 2024 and 2030. ● An average of $193 billion per year is also required for battery storage over this period and $607 billion for electricity grids. […]
Africa’s Renewables Targets Will be Hard to Achieve Despite a Doubling of Investment, BloombergNEF’s Latest Report Finds
23 September 2024, LONDON – The African Union has committed to bring 300 gigawatts of renewables online by 2030 – more than quadruple the 72 gigawatts the continent had last year – in order to reach its decarbonization and energy access goals. The Africa Power Transition Factbook 2024, produced by BloombergNEF (BNEF) with support from […]
Brazil Has a $1.3 Trillion Opportunity in Low-Carbon Energy Supply Investments, According to BloombergNEF
18 September 2024, London – As this year’s G-20 President and the host of COP30 in 2025, Brazil has a historic opportunity to lead the global transition to a low-carbon economy. Yet meeting the country’s large-scale ambitions will require significant investment in multiple technology pathways, BloombergNEF (BNEF) finds in its first Brazil Transition Factbook. According to […]
Urgent, Faster Scale-Up of Clean Technologies Presents Multi-Trillion-Dollar Opportunities for Decarbonization of India
•BloombergNEF’s New Energy Outlook: India details how the country can accelerate its decarbonization trajectory in line with the Paris Agreement commitment •Over $12 trillion in investment and spending is required for BNEF’s Net Zero Scenario, 34% more than the baseline Economic Transition Scenario •More than 4 terawatts of wind and solar capacity are installed by […]
Faster Scale-Up of Clean Technologies Could Get China on Track for Net-Zero Emissions by 2050
•BloombergNEF’s New Energy Outlook: China outlines how the country can achieve its carbon neutrality target 10 years earlier than its current 2060 goal •China needs to target a drop of at least 43% in energy-related emissions by 2035 compared with 2005 to stay on track with the Paris Agreement goal, BNEF’s Net Zero Scenario shows […]
Clean Electricity Breaks New Records; Renewables on Track for Another Strong Year: BloombergNEF
More than 40% of the world’s electricity came from zero-carbon sources for the first time in 2023; 14% from wind and solar Almost 91% of global net power capacity additions came from solar and wind in 2023 versus 6% from fossil fuels Renewable energy attracted $313 billion of new investment in the first half of […]
Urgent Scale-Up of Clean Technologies Needed to Keep Australia on Net-Zero Trajectory
•BloombergNEF’s New Energy Outlook: Australia details how the country can still meet decarbonization targets and net-zero commitment by mid-century •$2.4 trillion investment and spending required for BNEF’s Net Zero Scenario, only 12% more than the baseline Economic Transition Scenario •290 gigawatts of wind and solar capacity installed by 2050, power demand grows 2.5-fold Sydney, 19 […]