Global Clean Energy Spending Hits Record High, but Falls Short of Net-Zero Goal

Volkswagen Delays Battery Unit IPO Amid Slower EV Demand; Asian LNG Buyers Seek Alternatives Due to US Policy

Global spending on clean energy transition surged 17% to $1.8 trillion in 2023, but it's still not enough to achieve net-zero emissions by mid-century, according to BloombergNEF.
Volkswagen AG has delayed plans to seek outside investors for its battery unit due to slower demand for electric vehicles and doubts about its ability to produce its own batteries at scale.
Asian buyers of liquefied natural gas are seeking alternatives due to potential delays to US projects caused by a moratorium on new approvals.
Italy and Spain's economies expanded more than expected at the end of 2023, while France avoided a recession, offering hope that the euro zone can also avoid a downturn.
Despite the record spending on clean energy, the world needs to be investing more than twice as much in clean technology to reach net-zero emissions by mid-century.