Citigroup sees $2-4T clean energy spending gap; analysts weigh private capital's ability to fix that
Dive Brief: Global clean energy spending is on track to exceed $1 trillion in 2021, Edward Morse, managing director and global head of commodities research at Citigroup, said during a webinar on the state of energy finance hosted by Our Energy Policy on Wednesday. However, Citigroup estimates spending must reach $3-5 trillion per year to keep global warming below 2 degrees Celsius. Inosi Nyatta, a partner in Sullivan & Cromwell's Finance & Restructuring Group, said she believes that with the rapid growth of the renewable industry, the world will close the gap between current energy spending, ...