Presentation Bloomberg "Energy Transition Factbook 2021"
This Energy Transition Factbook illustrates the critical progress the world is achieving in the transition to a net-zero economy.
This Energy Transition Factbook illustrates the critical progress the world is achieving in the transition to a net-zero economy. As in the past, this year’s factbook identifies key, measurable trends in the development and deployment of clean energy technologies. In 2021, wind and solar made record
contributions to the global energy system, meeting over 10% of electricity demand for the first time. These technologies are also the fastest-growing new sources of power-generating capacity – largely because they are the lowest-cost options in countries where over two-thirds of the world’s population lives.
The factbook also highlights the important policy efforts underway to support the energy transition. A few encouraging trends: 65 percent of the world’s people reside in countries where national governments have promised or legislated net-zero CO2 targets. Last year’s Glasgow climate talks prompted nations to strengthen their climate commitments. And this year in Washington, Congress passed the first major piece of climate legislation in US history. Nevertheless, the world’s wealthiest nations have yet to follow through on their Paris Agreement commitment to ensure $100 billion flows annually to developing nations to help them tackle climate change and address its worst effects. Policy makers, philanthropists, development finance institutions and private investors must all do more to achieve this goal.
This factbook illustrates surging investor confidence in these technologies. A total of $920 billion in new capital went into the energy transition and climate tech in 2021, supporting the construction of thousands of clean power and power storage projects, funding the development of experimental technologies and underwriting the purchase of 6.5 million new electric vehicles. While substantial obstacles to clean energy remain, the wind is now very much at our backs, as we push toward a 100-percent clean energy future. I hope this factbook provides policymakers and other leaders the critical information they need to accelerate the clean energy transition, and the health and economic benefits it will bring.