In response to the International Energy Agency’s annual World Energy Investment Report
For immediate release
Every world leader has spent the last six months promising to deliver energy security and affordability. Today’s new energy investment data shows too many are doing the opposite. Unless leaders change course, fossil fuel investment is set to rise this year while clean energy investment stagnates.
The International Energy Agency’s annual World Energy Investment (WEI) Report is the world’s most authoritative assessment of where energy finance is flowing globally. Published each year, it tracks investment trends across energy types, regions, and types of investors. This year’s report comes at a moment of heightened geopolitical instability, energy price volatility, and growing pressure on governments to deliver affordable and secure energy.
In response to the report released today, Bronwen Tucker, Oil Change International Public Finance Lead, said:
“Every world leader has spent the last six months promising to deliver energy security and affordability. Today’s new energy investment data shows too many are doing the opposite. Unless leaders change course, fossil fuel investment is set to rise this year while clean energy investment stagnates. That means allowing fossil fuel executives and their wealthy shareholders to make billions from war, suffering, and energy insecurity and less energy access and higher bills for the rest of us. The reality is renewable energy and electrification are faster to build, cheaper to run, cleaner, and far more secure. Big Oil-friendly policies have put the US at the top for new fossil gas investments, while many African and Southeast Asian governments are working around significant barriers to accelerate renewable investment.
“Trump and Netanyahu’s illegal war on Iran and its continued disruption of the global energy market has underscored the urgency to phase out fossil fuels. Building this safe renewable future requires planned, government-led transitions with regulations, public funding, and new forms of international cooperation. Rich countries like the EU, Canada, UK, and Norway must phase out fossil fuels the fastest and stop blocking changes to outdated global debt, tax, and trade rules that make building a fair renewable energy future more expensive for everyone, but especially the most climate vulnerable countries.”
ENDS