East Asia and Pacific account for majority of RE investments globally
Investments in the region were led by China.
The majority of global renewable energy investments were secured by the markets in the East Asia and Pacific region, accounting for two-thirds of the global total in 2022.
In a report, the International Renewable Energy Agency and the Climate Policy Initiative noted that this is coming from surpassing 50% share in the investments in 2021. In 2019, the region received $137 or a 42% share, whilst in 2020 it secured $170b or 49% of the total.
However, China accounts for the lion's share of the investments in the region at 84% of the total in 2019 and 79% in 2020.
From 2013 and 2020, China attracted 23% to 39% of renewable investments annually, most of which were raised domestically.
China aims to reach carbon neutrality by 2060.