Global investment in cutting greenhouse gases fell by 11% in 2018

Climate mitigation effort 'cancelled out' by outlay on fossil fuels finds CPI

Investment in greenhouse gas emission reduction fell last year despite the growing urgency of the climate crisis, and the benefits of outlays were cancelled out by investments globally in fossil fuels and other dirty industries, finds a report by the Climate Policy Initiative.

Global climate finance hit a record high of $612bn (476bn) in 2017, according to CPI advisers, but fell back 11% after that bumper year to $546bn in 2018.