When it comes to investing in a future of clean and sustainable energy, the world is rapidly falling behind.
Global investment plateaued at roughly $360 billion in 2012, despite a need for almost twice that amount per year.
According to estimates by the U.N., another $48 billion will be needed on top of [roughly $625 billion per year] every year until 2030 to bring global energy access. That would move the world towards a sustainable energy economy while reducing global energy poverty at the same time — two goals that are often in structural tension.
With their greater wealth and much lower poverty, developed countries bare the majority of the responsibility to sacrifice to combat climate change.
Other good news from the CPI report was the discovery that we’re getting more bang for our buck out of renewable investments, probably due to improved economies of scale and lower technology costs.