Over the past decade, there has been $2.6 trillion invested globally in renewable energy capacity, with China leading the pack and smaller countries like South Africa and Chile investing significant percentages of their GDP. However, despite sizable growth in the industry, total renewable energy consumption globally only amounts to about 15% of all energy use, according to the 2019 BP Statistical Review of World Energy. As some countries attempt to move toward low-carbon economies, management accountants play a crucial role in driving sustainable strategic and operational decisions in organisations.
Inspecting the ‘crop’
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A worker inspects solar panels at a solar farm in Gansu province, China. China is the world’s biggest CO2 emitter but is also a leading generator of renewable electricity.