The Scandinavian nation’s parliament voted on Wednesday to instruct its $1 trillion fund to pull an estimated more than $13 billion from oil, gas and coal extracting companies and move up to $20 billion into renewable-energy projects and companies, representing around 2% of the fund.

The widespread adoption of renewable energy technologies creates employment opportunities up and down the supply chain. Worldwide, the sector employed 11 million people at the end of 2018, according to this sixth edition of the Renewable Energy and Jobs series.

The German energy transition continues to gather pace, reaching a record 47 per cent of total electricity produced in the first five months of 2019, putting it well ahead of its target for 2025, which requires it to meet between 40 and 45 per cent of total electricity consumption from renewables.

Electricity generated from Germany’s coal-fired plants declined by 46 million megawatthours (MWh) between 2000 and 2017, while electricity generated from wind and solar increased by 95 million MWh and 40 million MWh, respectively. Despite these changes, coal remains the main source of generation in Germany. Coal’s share of total generation declined from 50% in 2000 to 36% in 2017, despite slight increases in 2012 and 2013 that were related to Germany’s move away from nuclear power.

In a market outlook report focused on the Philippines, analytics firm GlobalData said installed capacity was cued for an 11.2-percent compound annual growth rate (CAGR) from 2019 to 2030.

Total capital expenditure in renewables will rise above $30 billion in the region by 2020, just overtaking investment into exploration and production for oil and natural gas,

Renewables accounted for 9.2% of India’s total power generation in fiscal 2018/19, shows data by the Central Electricity Authority (CEA).

The main conclusion of the study was that reduction targets can be achieved even in a non-technology-specific scenario (Evolution) by using the networks. A GHG reduction of 55% by 2030 and 95% by 2050 (relative to 1990 levels) was achieved for the energy industry, buildings and industry €139 billion cheaper than in a highly regulated approach with electrification by means of heat pumps (Revolution).

After nearly two decades of strong annual growth, renewables around the world added as much net capacity in 2018 as they did in 2017, an unexpected flattening of growth trends that raises concerns about meeting long-term climate goals.

Now, rapidly falling costs for these technologies are boosting global renewable energy capacity. Renewable energy sources can help reduce carbon emissions substantially and the effects of global warming.