Economy Local November 01, 2024

Global Climate Investment Needs to Reach $2.7 Trillion

According to Moody's, global investment needs in climate may reach $2.7 trillion annually by 2023, highlighting a critical financial requirement for climate initiatives.


Global Climate Investment Needs to Reach $2.7 Trillion

Moody's agency reported that global investments in climate could reach 2.7 trillion dollars annually by 2030. In its report, the agency noted: "In the context of extreme climate changes, investors and companies must enhance their efforts to reduce greenhouse gas emissions and transition to clean energy. This requires significant investments, estimated at 2.7 trillion dollars annually by 2030." The report also states that these investments should involve changes in energy generation, transportation, industry, and buildings. Conversely, it will be challenging to achieve long-term climate goals.

"We see that most countries and companies are striving to reduce their carbon footprint. However, to achieve global climate goals, changes must occur more rapidly and on a broader scale," Moody's report emphasizes.