Investment in energy is on track to recover by nearly 10% in 2021 as the world emerges from the COVID-19 pandemic, the International Energy Agency (IEA) said on Wednesday, but spending will fall far short of meeting urgent climate goals. More of the $1.9 trillion in investment is projected to shift toward electricity than ever, with more than $820 billion due to earmarked for power – the sixth year in a row it will outstrip investment in traditional oil and gas. “The rebound in energy investment is a welcome sign, and I’m encouraged to see more of it flowing towards renewables,” Fatih Birol, chief of the Paris-based watchdog, said in an introduction to the annual World Energy Investment report. “But […]