New research suggests that most energy providers are still investing in fossil fuels despite significant advancements in renewable technologies.
Countries around the world have agreed to ambitious carbon targets in the fight against climate change, but energy providers are not adapting to new renewable energy technology quickly enough to meet current goals.
A new study published in scientific journal Nature highlights that most providers are still investing in fossil fuels faster than they're investing in renewable energy.
The vast majority of energy companies have not committed one way or the other yet, and have yet to change their ratio of investment in solar and wind power.
The UK has fared better than most in this regard thanks to its abundance of wind power, with around 40% of the country's energy requirements being produced through renewable sources last year.
It's important that all countries begin transitioning away from fossil fuels in order to meet climate targets, but this study shows that it's not happening yet. Solar panel and wind turbine technology has advanced considerably in recent years, and the cost analysis is beginning to show that renewables are edging out coal and gas in many parts of the world.
