BloombergNEF – Energy Investment Trends, 2024

In 2023, global investment in the energy transition reached a record $1.8 trillion, driven primarily by electrified transport. This sector accounted for over a third of the total investment, surpassing renewable energy. China remained the largest market for energy transition investment, contributing 38% of the global total with $676 billion. However, Europe experienced the fastest growth. Investment in electrified transport reached $634 billion, a 36% increase from the previous year, while renewable energy investment grew by 8% to $623 billion. Other emerging areas, such as hydrogen, carbon capture and storage, and energy storage, also saw significant growth. The global clean energy supply chain and debt issuance for energy transition purposes also increased. Climate-tech companies, however, experienced a decline in private and public equity investment.