Investors plan major move into renewable energy infrastructure

Global survey finds spending expected to double in five years in response to climate fears

Global investors managing nearly $7tn (5.2bn) of assets plan to almost double their spending on renewable energy infrastructure over the next five years amid deepening concerns over the fossil fuel industry's climate plans, according to a report.

A survey of institutional investors found that they are planning to increase their renewable energy investments from 4.2% of their overall portfolio to 8.3% in the next five years and 10.8% within the next decade to about $742.5bn.