In a report released by Bloomberg New Energy Finance (BNEF), it was revealed that global energy transition investment soared to unprecedented levels in 2024, reaching nearly $2.1 trillion. This marked an 11% increase from the previous year, although the growth rate was slower compared to the preceding years. The report emphasized the necessity of ramping up investments to $5.6 trillion per year in 2025-30 and $7.6 trillion per year in 2031-35 to align with the goal of achieving net zero emissions by mid-century. The majority of the investment, around 93%, was directed towards established and commercially scalable technologies such as electrified transport, renewable energy, and power grids. However, funding for emerging sectors experienced a decline, with investment in areas like carbon capture and storage, clean industry, and hydrogen dropping significantly. BNEF identified challenges related to technology maturity, scalability, and affordability as obstacles hindering progress in emerging sectors, underlining the importance of public-private partnerships to mitigate risks and stimulate growth. Notably, mainland China emerged as a prominent player in energy transition investment, surpassing the EU, US, and UK with a 20% increase in contribution to reach $818 billion in 2024.