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Renewable market capitalizations overtaking old energy giants

October 30, 2020


The market capital of the international renewable energy companies have increased dramatically by overtaking the world’s once energy giants as the financial markets started to see the risks associated with fossil fuels which trigger climate crisis in the world, Tim Buckley, director of energy finance studies at the Institute for Energy Economics and Financial Analysis (IEEFA) told Anadolu Agency in an exclusive interview

Excessive use of fossil fuels worldwide has led to rapidly soaring global warming. About 195 countries drafted the Paris Climate Agreement in 2015 with the aim of limiting the global warming increase to 1.5°C.

A number of countries announced their plans to phase out fossil fuels starting with coal while the international financial institutions decided to stop coal financing. This decision is currently being reflected on oil and gas investments under the same concerns.

Renewables and clean energy technologies, on the other side, are becoming more dominant in countries’ energy mix and renewable energy companies are gaining more market value. 

[Staff Report]

More: Renewable Companies Overtake World’s Once Energy Giants

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