IEA report: WWF applauds continued investment in clean energy, but urges sustained momentum

Posted on June, 06 2024

Nations must intensify efforts to phase out fossil fuels and take concrete steps to accelerate the transition to renewable energy.

Bonn, Germany (6 June 2024): WWF commends the recent findings of the International Energy Agency (IEA) report indicating that global investment in clean energy technology and infrastructure is set to hit US$2 trillion this year, twice the amount going into fossil fuels.


Reacting to the report, Dean Cooper, WWF Global Energy Lead, said: “The IEA’s report is an encouraging indication that energy investments are heading in the right direction. It is a testament to the growing recognition of the economic, environmental, and social benefits of renewable energy. But, this is only just the beginning.”


“World leaders now need to accelerate and amplify their funds to renewable energy and energy efficiency to meet the targets set by the Paris Agreement and to limit global warming to 1.5°C.  US$1 trillion is still a lot of money being spent on fossil fuels when there should be no further investment in new coal, oil, or gas production. A rapid and just transition to 100% renewable energy is essential for safeguarding our planet and ensuring a sustainable future for all.”


“We must not become complacent. The progress highlighted in the IEA report is a call to action for all stakeholders to double down on their commitments and efforts. The report highlights the imbalance of relevant finance between different countries.  It’s important that developed countries are not only investing in their own energy transitions, but also supporting developed countries to make the shift too. Only through collective action can we hope to achieve a resilient, sustainable, and equitable future for all,” says Cooper.




Robin Harvey
​Izrael Muhamad 




WWF’s COP29 Expectations Paper ‘Financing the Future: Unleashing Climate Action’ is available to download here


WWF’s Climate and Energy Policy Manifesto 2024 ‘Turning the tide on tipping points: Aiming higher, doing more and exploring synergetic solutions’ is available to download here.


Find out more about WWF and COP29 here:


About WWF

WWF is an independent conservation organization, with over 30 million supporters and a global network active in over 100 countries. WWF's mission is to stop the degradation of the Earth's natural environment and to build a future in which humans live in harmony with nature, by conserving the world's biological diversity, ensuring that the use of renewable natural resources is sustainable, and promoting the reduction of pollution and wasteful consumption

UN Climate Conference Bonn – UNFCCC