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Reproduced from BloombergNEF; Chart: Axios Visuals

Investments into clean-energy technologies totaled more than $500 billion for the first time ever, according to a BloombergNEF report released Tuesday.

Why it matters: Technologies making energy and other material cleaner needs to expand rapidly if the world is to adequately address climate change in the coming decades.

Where it stands: If this sounds familiar, that's because it is.

  • This report comes on the heels of another one we wrote about last week that showed another record broken, specifically looking at venture capital investments.
  • Investments are accelerating due to a series of overlapping factors, such as falling costs and increasing political goals, including here in the U.S. under President-elect Joe Biden.

By the numbers: Global investment in the low-carbon energy transition was $501.3 billion in 2020, up 9% from 2019 despite the pandemic driving the world into a recession.

  • This tally includes investments in renewables, energy storage, electric vehicle charging stations, hydrogen production, carbon capture projects and more.
  • The largest areas of investment are renewable energy and electrified transportation.

Yes, but: The report also reflects another broader trend, which is that investment often lags in technologies beyond renewable electricity and electric cars. This includes carbon capture and most industrial processes like cement, according to the International Energy Agency.

Go deeper: VC investments into climate change technologies reach record high

Go deeper

Ben Geman, author of Generate
Jan 28, 2021 - Energy & Environment

GM plans to end sales of gasoline powered cars by 2035

GM CEO Mary Barra at the GM Orion Assembly Plant plant for electric and self-driving vehicles in Michigan. Photo: Bill Pugliano/Getty Images

General Motors is setting a worldwide target to end sales of gasoline and diesel powered cars, pickups and SUVs by 2035, the automaker said Thursday.

Why it matters: GM's plan marks one of the auto industry's most aggressive steps to transform their portfolio to electric models that currently represent a tiny fraction of overall sales.

Updated 7 mins ago - Politics & Policy

Facebook paying up to $14M to settle employment discrimination claims

Photo: T.J. Kirkpatrick/Bloomberg via Getty Images

Facebook has agreed to pay up to $14.25 million to settle allegations that it discriminated against American workers by reserving positions for temporary visa holders, the Justice Department announced on Tuesday.

Why it matters: The settlement represents the largest civil penalty and monetary award that the Civil Rights Division has recovered in the 35-year history of the Immigration and Nationality Act's anti-discrimination provision.

Updated 2 hours ago - World

Mapping repression in China's Xinjiang region

Data: © Mapbox, © OpenStreetMap; Map: Will Chase/Axios

A sweeping new report released today by an Australian research organization reveals new details about how the Chinese Communist Party — and specifically who within the party — is carrying out its campaign of repression in Xinjiang.

Why it matters: Uncovering the actual offices and individuals implementing the Chinese government's genocide and forced labor policies in Xinjiang can bring accountability and help international companies delink supply chains in compliance with U.S. and EU forced labor laws.