Invasion of Ukraine ‘has fuelled funding boom for clean energy’

Investors have turned to renewables, nuclear power and other low-carbon technologies in the wake of Russia’s invasion of Ukraine. Photograph: Gareth Lewis/Alamy

Russia’s invasion of Ukraine has helped ignite a boom in clean energy investment which will significantly outpace spending on fossil fuels, according to the International Energy Agency.

A report from the IEA has found that clean energy investment is on track to reach $1.7tn (£1.4tn) this year as investors turn to renewables, electric vehicles, nuclear power, grids, storage and other low-carbon technologies.