Chart of the Week

Global energy transition investment reached $2.3 trillion in 2025

Global energy transition investment grew 8% to a new peak of $2.3 trillion in 2025, with $483 billion in power grid investment and $893 billion in electrified transport investment, primarily in Asia, driving the growth. For the second consecutive year, global clean energy investment outpaced fossil fuelinvestment—with the gap widening to $102 billion—as North America reached this milestone for the first time in 2025. [BloombergNEF]

Energy Transition

Ten European nations, including Germany, France, Norway, and the UK, announced a partnership to build a 100 gigawatt North Sea “clean energy reservoir” that will link offshore wind farms directly to multiple countries’ power grids via high-voltage subsea cables. Participating countries pledged to deploy an initial $10 billion by 2030, mobilizing private investment to continue building offshore wind and transmission projects capable of powering 143 million homes and generating 91,000 jobs. [Bloomberg]

The UK Government launched the $20 billion “Warm Homes Plan”, rolling out solar panels, batteries, and heat pumps across 5 million homes to reduce household energy bills using clean technology. The plan targets interventions for low-income households and upgrades for social housing, aiming to lift up to 1 million families out of fuel poverty by 2030. [BBC]

Saudi Arabia unveiled a $2 billion investment to develop two large scale solar power plants in Turkey with a combined 2 gigawatts of capacity, in the first phase of a 5 gigawatt solar partnership between the two countries. The deal includes 50% local-content requirements, driving immediate gains of up to 10% in Turkish renewable-energy stocks. [Bloomberg] 

Green Mobility and Sustainable Fuels

BETA Technologies completed Norway’s first electric aviation test program, successfully flying its ALIA aircraft on 126 missions between Stavanger and Bergen to validate zero-emission cargo operations. Through this six-month trial, the company partnered with flight operator Bristow and Norwegian airport manager Avinor to establish the charging infrastructure necessary for the commercial scaling of short-haul electric aviation. [BETA Technologies]

Kenya unveiled a National Electric Mobility Policy—including tax breaks for EVs and a rollout of public charging stations—supporting an ongoing national shift towards clean transportation. Electric vehicle sales, including motorcycles, buses, and private cars, are currently on track to matchgas and diesel fueled vehicle sales in Kenya by 2042, with the nation’s electric registrations surging from 796 in 2022 to 24,754 in 2025. [ABC News]

Vema Hydrogen completed a pilot in Quebec, Canada, for its subsurface clean hydrogen production method, where hydrogen is extracted from iron- rich rock formations through stimulated chemical reactions without the need for electrolysis. Once commercialized, Vema expects to produce hydrogen for 50 cents per kilogram, cheaper than any other source on the market, and to provide a source of clean local power to meet growing data center demand. [TechCrunch]

Sustainable Materials & Products

The Indian government committed $2.2 billion through 2031 to scale carbon capture technology across hard-to-abate industrial sectors including steel, cement, and chemicals. The investment aims to decarbonize India’s industrial products, incentivize private investment and ensure the country maintains export competitiveness in an increasingly carbon-sensitive global trade environment. [Forbes]

Canadian-based Mkango Resources launched the UK’s first commercial rare earth magnet production in 25 years, using green hydrogen produced on-site to expand and crumble end-of-life magnets into a reusable alloy powder. The facility will function as a key enabler of the UK government’s critical minerals strategy, which aims to meet 20% of critical mineral demand through recycling by 2035. [Reuters]

Samsung launched the world’s first commercial display featuring a plastics alternative made from phytoplankton bio-resin, a material innovation that reduces manufacturing carbon emissions by more than 40% compared to conventional plastic. The display maintains static images at zero watts, offering an ultra-low-power and sustainable digital alternative to printed signage in retail and office environments. [Samsung]

Notable Corporate Commitments

Maybank, Malaysia’s largest lender by assets, announced plans to mobilize $74 billion towards sustainable finance by 2030, as part of the bank’s ROAR30 strategy. ROAR30 nearly doubles the bank’s sustainable financing compared to the preceding strategy, and will target renewable energy project finance, credit for social enterprises in underserved communities, and transition finance for hard-to-abate industries. [Reuters]

Nestlé launched global partnerships with The Nature Conservancy and youth professional platform Goodwall to accelerate the adoption of regenerative agriculture across its sourcing footprint. Announced at the World Economic Forum in Davos, these initiatives focus on leveraging Goodwall’s platform to engage youth in scaling science-based ecosystem restoration and sustainable farming practices. [Nestlé]

Global Climate Commitments and Progress

Spain secured EU approval for a $3.4 billion state aid program to support high- efficiency combined heat and power plants, promoting the use of biofuels and improving energy efficiency. This 10-year initiative aims to stabilize the grid and accelerate industrial decarbonization, alongside requiring natural gas projects to be renewable hydrogen-ready to avoid locking in natural gas demand. [Reuters]

Eleven central and southern African governments announced a partnership with the Trafigura-backed Miombo Restoration Alliance to transform 675,000 hectares of degraded woodland into a $1 billion platform for high-integrity carbon removal credits. The public-private partnership will fund the sequestration of 50 million tons of carbon, adopting revenue-sharing structures directing 60% of proceeds towards national climate goals and rural economic development. [Reuters]

Multimedia Insights

As AI-driven data centers place pressure on the U.S. power grid, this episode of People, Places, Planet explores how "load flexibility" could help manage surging electricity demand. Experts from Duke University and Emerald AI discuss how innovative technologies and policy shifts can balance grid reliability to keep pace with the sector’s rapid expansion.

This installment of Bloomberg’s Zero: The Climate Race discusses how electrification, rather than decarbonization, is emerging as the climate story of 2026. The episode interviews Kingsmill Bond, author of think tank Ember Energy’s recent report on the electrotech revolution, which highlights the plummeting costs and surging global adoption of clean, electric technologies.

Climate Events

Asia-Pacific Forum on Sustainable Development

Dates: February 24-27 2026

Location: Bangkok, Thailand

Preview: This UN forum aims to inform and support countries in the Asia-Pacific on their progress towards the Sustainable Development Goals. To address these challenges, the forum will convene UN member states, civil society, and international organizations to promote regional partnerships and climate solutions. 

Natural Capital Investment EMEA 2026

Dates: March 5 2026

Location: London, UK

Preview: This annual conference brings together key stakeholders in nature- based finance for discussions on natural capital investment approaches, regulation and policy, and bridging data gaps. Discussions include scaling blended finance, investing in the blue economy, and ensuring high-integrity carbon markets. This material is solely for informational purposes and shall not constitute an offer to sell or the solicitation to buy securities. The views expressed herein are those of the third-party sources and not necessarily those of TPG.

This material is solely for informational purposes and shall not constitute an offer to sell or the solicitation to buy securities. The views expressed herein are those of the third-party sources and not necessarily those of TPG.