Green Wins Battle for Green

January 09, 2023

Global investment in renewables topped fossil-fuel projects in 2022, the first time for this debt market dynamic. Bloomberg reports that about $580 billion was arranged in 2022 for renewable energy and similar ventures, while oil, gas and coal notched about $530 billion. The story isn’t entirely about the virtues of green. High oil prices enabled many companies to depend less on capital markets for project funding. The trend, however, is undeniable as green project funding has been closing the gap steadily for nearly a decade.