After the euphoria of the early ratification of the Paris Agreement comes the short, sharp shock of the reality check. The news that global clean energy investment slumped markedly during the third quarter of this year – continuing a trend that means 2016 will not match the record investment levels seen in 2015 – is not as disastrous as some critics of clean technologies will make out. But it is definitely suboptimal, to put it mildly. the biggest warning light of them all for the long-term health of the global economy: investment in renewable and energy-smart technologies has stalled. The latest figures from the influential Bloomberg New Energy Finance (BNEF) show clean tech investment in the third quarter of this year crashed 43 per cent year on year to $42.4bn, marking the worst quarterly performance since 2013. This follows a first half of the year that was down 23 per cent year on year. Instead of unleashing an immediate surge in investment, the Paris Agreement marked the end of 2015’s renewables boom.
Business Green 11th Oct 2016 read more »