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Energy Transition

Clean tech investment is booming, but not yet keeping pace with rising energy demand. Plus: China, Africa and the Gulf’s efforts to shift away from fossil fuels; Big Oil pulls back on climate goals; and the start-ups leading energy innovation

© Karim Sahib/AFP via Getty Images

Clean tech investment set to hit $2tn in 2024
But spending still at less than half of estimated level needed by the early 2030s to achieve net zero targets
Big Oil under pressure to recalibrate green transition goals
Some producers have started to row back on low-carbon strategies amid high fossil fuel demand and investor concerns
12 start-ups tackling the energy transition
Businesses globally have attracted billions in venture capital for clean and renewable power projects
Strategic interests galvanise Gulf’s renewables spending
UAE and Saudi Arabia are leading region’s efforts to reduce dependence on oil and gas
Coal focus damps hopes of China’s climate ambition
Momentum behind net zero pledges could be fading as Beijing prioritises economic growth and energy security
Energy poverty and funding hurdles hold back Africa’s green transition
Proponents of continued fossil fuel use say it is the only way for the continent to industrialise