"IEA: Global recovery spending on clean energy rises by 20%"

" \n IEA: Global recovery spending on clean energy rises by 20% \n \n\n \n Governments currently plan to allocate an estimated US$470 billion for clean energy investment between now and 2030, up by 20 percent compared to plans in July, the International Energy Agency (IEA)\u00a0 said \u00a0on Thursday but noted that despite the increase, recovery is uneven and clean energy investment is not enough to prevent emissions growth. \n \n\n \n Between July and October, governments have made 40 new funding announcements and added spending figures and details to 140 previously announced spending programs, the IEA\u2019s Sustainable Recovery Tracker showed . \n \n\n \n Government spending increased significantly in energy efficiency, clean fuels and innovation funding, as well as in low-carbon and efficient transport, adding to already strong levels of government support for these areas, the IEA said. \n \n\n \n Also: Stagflation in China is a \u2018very real\u2019 risk in the next couple of quarters, says analyst \n \n\n \n The sustainable recovery spending, however, is highly imbalanced: advanced economies have made the most of the clean energy announcements, which still fall short of putting carbon dioxide (CO2) emissions on a permanent declining trend, the IEA noted. \n \n\n \n \u201cWe are witnessing an uneven and unsustainable recovery from last year\u2019s economic crisis \u2013 a recovery that consists of huge growth in fossil fuel consumption while leaving behind nearly 80% of the world\u2019s population in the shift towards a new and cleaner energy economy,\u201d Fatih Birol, the IEA Executive Director, said in a statement. \n \n\n \n \"Even in advanced economies, more should be done to reach net-zero emissions by 2050. New infrastructure spending packages currently under consideration in France, Japan, and the United States could significantly boost spending on clean energy advanced economies. Yet, developed nations need even more investments this decade in order \u201cto put them on a path consistent with reaching net zero emissions from energy globally by 2050,\u201d the IEA said. \n \n\n \n Government spending on sustainable recovery in emerging and developing economies remains only around one-tenth of the level seen in advanced economies, the agency added. \n "

"IEA: Global recovery spending on clean energy rises by 20%"

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