The world's progress in the low-carbon energy transition will increase by 2022 as the energy crisis and policy actions drive faster deployment of clean energy technologies, Investments totaled $1.1 trillion, a new record and a sharp acceleration from the previous year.

Renewable energy, including wind, solar, biofuels and other renewable energy sources, remains the largest area of investment, achieving a new record $495 billion in 2022, a 17% increase from the previous year.

According to BNEF, China is by far the main country attracting investment in the energy transition, accounting for $546 billion, nearly half of the global total. The United States is a distant second with $141 billion, while the European Union, if considered as a single bloc, would come in second with $180 billion. Germany retained its third position, while the UK dropped one spot to fifth and France moved up to fourth.

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