DelhiDesk India is investing more in clean energy than fossil fuels, according to a report by the International Energy Agency (IEA). Of the $2.8tn global energy investment for 2023, more than $1.7tn is expected to be allocated to renewables, electric vehicles, nuclear power, grids, energy storage, low-emission fuels, efficiency improvements and heat pumps. Investments in coal, gas and oil are expected to amount to slightly over $1tn. The report shows that the majority of the increase in clean energy investments is coming from advanced economies and China, leaving concerns that other regions may be left behind.

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Here is the news bullets sorted by team.

๐Ÿ‘‰ India is surpassing spending on fossil fuels with clean energy investment
๐Ÿ‘‰ $1.7 trillion of projected $2.8 trillion global energy investment for 2023 expected to be allocated to clean technologies
๐Ÿ‘‰ Solar power poised to overtake investments in oil production for the first time in India
๐Ÿ‘‰ Strong economic growth and proactive policy support driving India’s clean energy momentum
๐Ÿ‘‰ Surge in electric vehicle adoption and growth in global heat pump sales in India
๐Ÿ‘‰ Global efforts needed for equitable and widespread clean energy transitions
๐Ÿ‘‰ Importance of international collaboration to drive investment in lower-income economies emphasized by IEA executive director

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