The United Arab Emirates has set out a $30 billion commitment to “create a fairer climate finance system”, with a particular focus on the Global South.
Net zero investment
Octopus Energy is to create its first offshore wind fund, vowing to invest £3 billion in global projects by the end of the decade alongside partner Tokyo Gas.
The UK has fallen down EY’s biannual ranking of the attractiveness of renewable energy investment markets by three places to seventh.
This week's investment roundup looks at the rise of climate tech investment in the Middle East and North Africa, how central governments are supporting sustainability projects and the latest guides to responsible investing.
Many consider net zero 2050 an immense investment opportunity, but there are few comprehensive analyses of exactly its size. New research suggests that institutions well prepared to embark on net zero pathways will be able to take full advantage of decarbonisation-focused policy shifts and avoid being stuck with stranded assets.
South Africa may be able to raise as much as 1.13 trillion rand ($60 billion) over the next five years to fund a switch to green energy from fossil fuels, its environment minister said.
Hydrogen projects involving Amazon.com Inc., Exxon Mobil Corp. and Air Products and Chemicals Inc. are among those set to receive portions of $7 billion in US funding meant to make the country a leader in the controversial fuel.