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- Miami on track for MLS record points after win in Toronto
- Monaco take top spot in Ligue 1 with win at Rennes
- Madrid beat Villarreal to level Liga leaders Barca
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- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
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- Heavyweights Australia, England off to World Cup winning starts
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- Man City sink Fulham to get title bid back on track
- France's Auradou whistled on Pau return in Perpignan loss amid ongoing rape case
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Arsenal hit back in style after Southampton scare
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- Liverpool stay top of Premier League as Arsenal, Man City win
- In dank Tour of Emilia, Pogacar shines in rainbow jersey
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- Schutt, Mooney help Australia beat Sri Lanka in Women's T20 World Cup
- Liverpool extend Premier League lead with win at Palace
- Djokovic 'shakes rust off' to make third round of Shanghai Masters
- 'Imperfect' PSG fighting on all fronts - Luis Enrique
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- Gauff fights back to reach China Open final
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- Hezbollah battles troops on border as Israel pounds Lebanon
- Alcaraz, Sinner breeze into third round of Shanghai Masters
- Bagnaia wins Japan MotoGP sprint to cut Martin's lead
- Alcaraz breezes into third round of Shanghai Masters
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Green energy investment tops $1 trillion, matches fossil fuels
Investment in cleaner energy is on the verge of overtaking spending on fossil fuels for the first time ever after exceeding $1 trillion last year, a report on Tuesday said.
Despite the milestone, spending on energy transition technology must immediately triple to meet the target of net-zero emissions by 2050 to combat climate change, according to research group BloombergNEF.
Investment in sectors such as renewables, nuclear, zero-emission vehicles or recycling projects totalled $1.1 trillion last year, matching spending on fossil fuels, the report found.
This is up 31 percent on the previous year, and marks the first time the investment total has been measured in trillions.
The increase was driven by the energy crisis that followed Russia's invasion of Ukraine, the report said.
"Investment in clean energy technologies is on the brink of overtaking fossil fuel investments, and won't look back," said Albert Cheung, head of global analysis at BloombergNEF.
China -- the world's biggest polluter -- was by far the largest investor in energy transition, with the United States a distant second.
Nearly half of the total global investment was in China, particularly in steel recycling and the renewable energy and electric vehicles sectors.
Germany has retained its place in third position, largely due to a sizable EV market.
But a drop in offshore wind deals saw investment in Britain fall by nearly a fifth, the report found.
Globally, renewable energy was the biggest sector for investment at $495 billion, followed by electrified transport projects.
With the exception of nuclear power, the researchers said all other sectors saw record levels of investment.
The growth in energy transition technology also comes as many countries saw an increase in fossil fuel investment in a bid to shore up energy security.
The war in Ukraine caused disruption to the global power supply as Russia, a major producer of fossil fuels, cut gas supplies to Europe Union countries and was hit by sweeping sanctions over the invasion.
H.Portela--PC