Energy investments are not enough to bring prices down, the IEA says

Investment in global energy supplies will jump this year, led by an expansion of no-emission or low-emission capacity, but spending will not be sufficient to tame rising energy prices or meet global climate targets, the International Energy Agency said.

The most severe global energy crisis in decades, partly caused by Russia’s invasion of Ukraine, has caught companies and investors between protracted efforts to switch to cleaner energy sources and more immediate demands to rapidly increase supply to curb rising prices. The latest investment figures, published by the Paris-based agency in an annual report on Wednesday, suggest that energy investment levels are struggling in both respects, the IEA said.

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