Energy transition well underway despite interest rate setbacks

Wednesday 13 Nov 2024
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A new report by Dr Gireesh Shimali and Christian Wilson from the Oxford Sustainable Finance Group concludes that despite a threat from high interest rates, the global transition to renewable energy is well underway.

The report finds that low-carbon capital expenditure (CAPEX) has overtaken oil and gas CAPEX globally, and the share of exploration-related activities in oil & gas CAPEX has fallen over time. Within the power sector, fossil fuel capacity has peaked in North America and Europe.

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