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1、The UKs energy transition in a global contextPart of The Clean Growth Gap a series of reports and economic analysis from Energy UK,supported by Oxford EconomicsFunding the FutureFunding the Future:The UKs energy transition in a global context2Executive Summary:The UKs Energy Transition in a Global C

2、ontextNet Zero presents knotty challenges of global collaboration and competition.This is especially true in our world of globally connected finances,where investment flows across borders to where it can be put to best use.These flows are shaped by the decisions of governments around the world,and i

3、f we are to understand how to attract investment to the UK,we must first appreciate how the UK compares to other countries.“Funding the Future”-the second in Energy UKs“The Clean Growth Gap”series-sets out what governments around the world have done to attract investment in their clean economies and

4、 what this means for the UK as it considers its next steps in the energy transition.Investment is key to the energy transitionInvestment is the way the world will fund the transition to a Net Zero economy and in turn shape all our futures.The UKs energy security,future prosperity and the potential t

5、o achieve our climate goals are all reliant on the ability to attract investment.Around the world,this investment mostly comes from the private sector(60%in 2022 according to The International Energy Agency(IEA)1),but government action and strong policy support is vital to unlocking it.The world is

6、investingChina dominates global activity,boasting nearly half of the worlds clean technology investments in 2022.Its$546 billion spend in low carbon technologies was over three times the spend of the European Union which totalled$180 billion in 2022(Fig.1).The United States came in third,with$141 bi