Global spending in the first half of 2019 totalled US$117.6 billion, a six-year low. Investments were down in the U.S., Europe and China. China’s drop was particularly pronounced at 39 per cent, but the country still invested the most in clean energy at US$28.8 billion, nearly a quarter of global investments. (Bloomberg)

Talking point: The decreased spending follows an eight per cent dip in renewables investing in 2018 compared to the year before. While there’s been a rush of commitments by big corporations and institutional investors promising to invest more in clean energy, this data shows the amount of money isn’t increasing. The trend underscores how efforts to transition from fossil fuels aren’t necessarily widespread or consistent, even within companies. A 2018 report from Clean Energy Canada, a climate-focused think tank at Simon Fraser University, noted that Suncor was the only oil and gas producer to diversify its business with renewable energy, but that the company had reduced its number of clean tech projects from four to six between March 2017 and March 2018. And, while TC Energy was once a leader in renewable energy, it has also started selling off wind, solar and hydro assets.