Fossil fuels investment takes nosedive

(Eco Business, 20 Sep 2016) Energy experts say global investment patterns show a spectacular shift, with renewables on the rise and support for fossil fuels in sharp decline.

A revolution is taking place in the global energy sector, with investments in oil and gas declining by 25 per cent in 2015 while energy produced from renewables rose by more than 30 per cent.

“We have never seen such a decline [in oil and gas investment]”, says Dr Fatih Birol, executive director of the International Energy Agency (IEA), at the London launch of its first-ever report into world energy investment .

“Our findings carry a very important message for climate change and for the Paris agreement . Anyone who does not understand what is going on – governments, companies, markets – is not in the right place.”

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Eco Business, 20 Sep 2016: Fossil fuels investment takes nosedive