Tag: BloombergNEF

Corporate Clean Power Buying Grew 12% to New Record in 2023, According to BloombergNEF

Stuart Mitchell

Corporations publicly announced a record 46 gigawatts (GW) of solar and wind contracts in 2023, some 12% more than the previous record of 41GW in 2022. The improving economics in key regions like Europe, alongside imminent company clean energy goals, were the main drivers underpinning this growth and position the market even better for 2024, finds BloombergNEF (BNEF) in its 1H 2024 Corporate Energy Market Outlook. According to BNEF, since 2008, corporations have announced power purchase agreements, or PPAs, for 198GW of solar and wind – greater than the power…

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Carbon Credits Face Biggest Test Yet, Could Reach $238/Ton in 2050, According to BloombergNEF Report

Stuart Mitchell

Ongoing scrutiny and reputational issues made 2023 a challenging year for the voluntary carbon market. 2024 is set to be a determining year for the future of the market, tied to whether confidence in carbon credits can be restored. Doing so could drive companies to purchase billions of carbon credits annually, elevate prices over $200 per ton and build a market valued at over $1.1 trillion annually by 2050. However, failure could result in the death of the broader market, according to BloombergNEF’s (BNEF’s) Long-Term Carbon Offsets Outlook 2024 report.…

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Tripling Global Renewables By 2030 Is Hard, Achievable and Necessary to Achieve Net Zero

Stuart Mitchell

World leaders have been building momentum to triple globally installed renewable energy capacity by 2030. This goal, which equates to 11 terawatts of renewables capacity by 2030, took center stage at the United Nations climate summit in the United Arab Emirates as the COP28 Presidency seeks international agreement on it. The proposed pledge matches what is needed for a global net-zero pathway by 2050 and Paris-aligned climate goals, according to analysis published today by research provider BloombergNEF (BNEF). While the last tripling of capacity happened over 12 years, from 2010…

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Global Clean Energy Revenues From Listed Firms Hit $2.56 Trillion in 2022

Stuart Mitchell

In 2022, clean energy activities generated at least $2.56 trillion globally, according to the Clean Energy Exposure Ratings analysis published by BloombergNEF (BNEF). This includes company revenues drawn from clean energy production, and from the manufacturing of key technologies and equipment for clean energy[1]. BNEF’s Clean Energy Exposure Ratings provide investors with transparency about their exposure to the opportunities of the low-carbon transition. They identify and rate 8,182 listed companies with revenue exposure to clean energy activities, from over 50,000 assessed. Just 2,780 explicitly disclose relevant revenue, giving them a…

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Japan Can Meet Net-Zero Goal With Minimal Reliance on Hydrogen, Report Shows

Stuart Mitchell

Japan’s transition to a net-zero economy by 2050 presents an investment opportunity that amounts to at least $6.7 trillion, according to the New Energy Outlook: Japan report, published recently by research company BloombergNEF (BNEF). The report details two scenarios for Japan’s energy system and the implications of the country’s transition opportunities and challenges. The base case Economic Transition Scenario describes an economics-led transition, consistent with a global temperature rise of 2.6°C by 2100. The second, the Net Zero Scenario, is consistent with net-zero emissions by 2050 with no overshoot or…

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