Investment in projects that tackle climate change is expected to decline in 2022 as global foreign direct investment flows drop, according to a report published by the UN Conference on Trade and Development.
Between January and September this year climate change mitigation and adaptation sectors had 7% and 12% fewer new projects announced respectively. Climate change investment had been increasing since 2015 when the Sustainable Development Goals were introduced. Last year also saw a strong acceleration in renewable energy. "The boom was supported by post-Covid stimulus investment packages, especially in Europe, and loose financing conditions for international project finance worldwide," the report said. "Total project values in 2021 were twice the pre-pandemic level. This momentum is ...
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