Investments in global energy supplies will jump this year, led by an expansion in no-emission or low-emission capacity but the spending won’t be sufficient to tame soaring energy prices, or meet global climate targets, the International Energy Agency said.
The most severe global energy crisis in decades, brought on in part by Russia’s invasion of Ukraine, has caught companies and investors between longstanding efforts to transition to cleaner energy sources and more immediate demands to rapidly increase supply to contain soaring prices. The latest investment figures, published by the Paris-based agency in an annual report Wednesday, suggest energy investment levels are struggling in both regards, the IEA said.
