IEA Calls For $48 Trn Energy Spend To 2035

Meeting growing global energy demand will require investment of over $48 trillion by 2035, the IEA’s freshly-released World Energy Investment Outlook says.

IEA Executive Director Maria van der Hoeven says $40.2 trillion should be spent on increasing energy supply, plus $8 trillion on energy efficiency, of which 90% would be in buildings and transport.

“Two-thirds should be invested in emerging economies, though a great deal must also be spent on replacing ageing equipment in developed economies,” accounting for the bulk of the 59% of energy investment needed just to maintain production at current levels.

But she warns that “this won’t materialize unless there are credible policy frameworks in place as well as stable access to long-term sources of finance.” (CONTINUED - 194 WORDS)