This document discusses investment trends in the global energy sector and the changes needed to meet climate targets. It finds that while renewables investment has increased, fossil fuels still dominate. Transitioning to a 2 degree Celsius pathway would require tripling low-carbon power investment to $730 billion annually by 2035, mostly in renewables. It also notes that reducing the cost of capital for renewables could lower required subsidies by 40%. Overall investment needs are similar, but policies are needed to redirect capital flows towards low-carbon technologies and meet climate goals.