Sun Day Fun Day

“The International Energy Agency just published its annual report on global investment in energy, where it tallies up all that cash. The world saw about $2.8 trillion of investments in energy in 2022, with about $1.7 trillion of that going into clean energy. That’s the biggest single-year investment in clean energy ever, and where it’s all going is pretty interesting.” MIT Tech Review follows the money to see where energy investments are being made, and you can follow along. The world is finally spending more on solar than oil production.

+ Of course, any time you follow the money, you can wind up where you least expect. Reuters: Rich nations say they’re spending billions to fight climate change. Some money is going to strange places. “Although a coal plant, a hotel, chocolate stores, a movie and an airport expansion don’t seem like efforts to combat global warming, nothing prevented the governments that funded them from reporting them as such to the United Nations and counting them toward their giving total. In doing so, they broke no rules. That’s because the pledge came with no official guidelines for what activities count as climate finance.”