To illustrate the positive cleantech investment momentum further, investments by private equity, governments and investors in clean energy and technologies have surpassed investment in fossil fuels, as demonstrated in the IEA Energy Outlook 2023. With over US$ 3 trillion invested globally in energy in 2023, more than USD 1.8 trillion was invested in clean technologies, including renewables, electric vehicles, efficient grids, storage, low-emission fuels, and heat pumps (IEA 2023).