Global Landscape of Energy Transition Finance 2025
Global investments in the energy transition reached a new record of USD 2.4 trillion in 2024. Despite annual investments more than doubling since 2019, they remain concentrated in advanced economies and China, leaving most emerging and developing countries behind. Investments also remain well below what is needed to achieve IRENA’s 1.5°C Scenario. About one-third of investment in 2024 was directed towards renewable energy technologies, pushing renewable energy investment to USD 807 billion. Despite this milestone, year-on-year growth of renewables slowed significantly. Finally, most investment is provided at market rate debt and equity, with grants accounting for less than 1%. Given existing funding gaps and disparities, there is an urgent need to mobilise investments – particularly impact-driven capital such as low-cost debt and grants.
The International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI) report Global Landscape of Energy Transition Finance analyses energy transition investment trends by technology, sector, region, source of finance and financial instrument in the period 2013-2024, with a particular focus on renewables. This session will present the key findings of the report, and discuss the role of international cooperation and impact-based financing in addressing persistent funding gaps and regional disparities.
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