Around $2.8tn (€2.6tn) will be invested in energy in 2023 with more than $1.7tn going to clean energy, including nuclear and renewables, an International Energy Agency report says.

Nuclear investment is rising mainly in advanced economies and China, according to the report, World Energy Investment 2023. More than a decade after the accident at Fukushima-Daiichi in Japan, an increasing number of countries are taking a fresh look at how nuclear technologies might provide low-emissions and dispatchable power.

Clean energy investments have been boosted by a variety of factors in recent years, including periods of strong economic growth and volatile fossil fuel prices that raised concerns about energy security, especially following Russia’s invasion of Ukraine.