Low-carbon investments in Australia to climb by 23%: report
The market will follow Africa which is expected to see the highest investment growth.
Low-carbon investments in Australia are expected to increase by 23%, following Africa which is projected to attract the highest investment growth, a report found.
Investments in Africa are expected to grow by 26%, driven by onshore wind projects in Egypt.
Meanwhile, low-carbon investments across Asia is projected to increase by 12% in 2023.
“Asian growth of 12% is heavily impacted by China’s ambitions within solar and wind, while the US Inflation Reduction Act and a step-up in renewables and Carbon Capture, Utility and Storage (CCUS) will help push North American investments up 9% this year,” the report read in part.
“Europe is challenged by high inflation and a regional supply chain in crisis, resulting in a projected investment growth of 7% – much lower than the tempo needed to meet the European Union’s REPowerEU ambitions.”