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.”

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