IEA: Only 2% of Covid-19 recovery spending goes into clean energy transition

The sums of money, both public and private, being mobilised worldwide by recovery plans fall well short of what is needed to reach international climate goals, a new report by the International Energy Agency (IEA) says.

Official Press Release IEA:

With only 2% of governments’ recovery spending going to clean energy transitions, global emissions are set to surge to an all-time high

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IEA’s new Sustainable Recovery Tracker monitors governments’ fiscal responses to the Covid-19 crisis and estimates their impact on clean energy investments and global CO2 emissions

Governments worldwide are deploying an unprecedented amount of fiscal support aimed at stabilising and rebuilding their economies, but only about 2% of this spending has been allocated to clean energy measures, according to new analysis from the International Energy Agency. The sums of money, both public and private, being mobilised worldwide by recovery plans fall well short of what is needed to reach international climate goals. These shortfalls are particularly pronounced in emerging and developing economies, many of which face particular ... More: Official Press Release IEA