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Paris-compliant transition needs massive redirection of capital – DNV

Financiers face multiple challenges as they tackle high-risk, low-return clean energy projects, report says

The goals of the Paris Agreement are achievable but will require flows of capital to be significantly redirected, according to a new report by risk management company DNV. Analysis by the IEA shows that spending on clean energy needs to increase to at least $1tn/yr if the energy transition is to be achieved. An acceleration of the current pace of transition is critical because the world is on track to exhaust its carbon budget—the maximum amount of CO₂ it can emit in order to stand a 67pc chance of meeting the Paris Agreement goals—by as early as 2029, according to the DNV report. “A Paris Agreement-compliant transition is achievable, but it won't happen by itself or by accident. A massiv

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