This in-depth study of world energy markets demonstrates the extent to which energy is under-priced in some of the largest developing and transition countries. It also quantifies the benefits that could be achieved by getting energy prices right, including a reduction of wasteful energy consumption, greater economic growth and lower emissions of carbon dioxide.

This year’s edition of the World Energy Investment provides a full update on the investment picture in 2022 and an initial reading of the emerging picture for 2023.

The report provides a global benchmark for tracking capital flows in the energy sector and examines how investors are assessing risks and opportunities across all areas of fuel and electricity supply, critical minerals, efficiency, research and development and energy finance.

It focuses on some important features of the new investment landscape that are already visible, including the policies now in place that reinforce incentives for clean energy spending, the energy security lens through which many investments are now viewed, widespread cost and inflationary pressures, the major boost in revenues that high fuel prices are bringing to traditional suppliers, and burgeoning expectations in many countries that investments will be aligned with solutions to the climate crisis.

This year’s edition of the World Energy Investment report provides a full update on the investment picture in 2021 and full-year estimates of the outlook for 2022. It examines how investors are assessing risks and opportunities across all areas of fuel and electricity supply, critical minerals, efficiency and research and development, against a backdrop of uncertainties over how events will play out in 2022, namely the ongoing war in Ukraine, the outlook for the global economy, and in some countries the continuing public health risks from the pandemic.

The report focuses on some important features of the new investment landscape which are already visible, including the energy security lens through which many investments are now viewed, widespread cost pressures, the major boost in revenues that high fuel prices are bringing to traditional suppliers, and burgeoning expectations in many countries that investments will be aligned with solutions to the climate crisis.

This year’s edition of the World Energy Investment report presents the latest data and analysis of how energy investment flows are recovering from the shock of the Covid-19 pandemic, including full-year estimates of the outlook for 2021. It examines how investors are assessing risks and opportunities across all areas of fuel and electricity supply, efficiency and research and development, against a backdrop of a recovery in global energy demand as well as strengthened pledges from governments and the private sector to address climate change.

The report focuses on two key questions:

• Whether the growing momentum among governments and investors to accelerate clean energy transitions is translating into an actual uptick in capital expenditures on clean energy projects.
• Whether the energy investment response to the economic crisis caused by the Covid-19 pandemic will be broad-based or if some sectors, geographies and vulnerable parts of the world’s population will be left behind.

The worldwide economic shock caused by the Covid-19 pandemic is having widespread and often dramatic effects on investments in the energy sector. Based on the latest available data, the International Energy Agency's World Energy Investment 2020 provides a unique and comprehensive perspective on how energy capital flows are being reshaped by the crisis, including full-year estimates for global energy investment in 2020.

Now in its fifth edition, the World Energy Investment report is the annual IEA benchmark analysis of investment and financing across all areas of fuel and electricity supply, efficiency, and research and development. In addition to a full review of the 2019 trends that preceded the crisis, this year’s analysis highlights how companies are now reassessing strategies – and investors repricing risks – in response to today’s profound uncertainties and financial strains.

The energy industry that emerges from this crisis will be significantly different from the one that came before. The vulnerabilities and implications vary among companies, depending on whether they are investing in fossil fuels or low-carbon technologies, as well as across different countries. The new report assesses which areas are most exposed and which are proving to be more resilient. The analysis also provides crucial insights for governments, investors and other stakeholders on new risks to energy security and sustainability, and what can be done to mitigate them.

The International Energy Agency’s annual benchmark for tracking energy investment, World Energy Investment 2019 provides a full picture of today’s capital flows and what they might mean for tomorrow’s energy sector. It assesses whether the frameworks and strategies put in place by governments, the energy industry, and financial institutions are spurring timely investment, and how spending across sectors and technologies matches with the world’s energy security and sustainability needs.

This year’s edition looks at trends in investment and financing in 2018 across all areas of energy supply, efficiency, and research & development, key markets and sectors driving these trends, from electricity in Asia to fuel supply in North America, as well as the sectors and regions where energy capital flows are constrained. The analysis also examines how industry is responding to investment risks and opportunities, including through shorter-cycle oil and gas projects, financial risk management strategies for renewable power, financing models for energy efficiency, and in capital allocation decisions across sectors. And it looks at the implications of today’s trends, such as whether investment is sufficient to satisfy the world’s growing demand for energy, and whether enough capital is going into energy efficiency, renewable energy, and other low-carbon technologies to accelerate the pace of global energy transitions.

World Energy Investment 2018 provides a critical benchmark for decision making by governments, the energy industry, and financial institutions to set policy frameworks, implement business strategies, finance new projects, and develop new technologies. It highlights the ways in which investment decisions taken today are determining how energy supply and demand will unfold tomorrow. The report looks at critical questions that have shaped the energy industry, including:

• Which countries and policies attracted the most energy investment in 2017, and what fuels and technologies are growing fastest?
• Is energy investment sufficient and targeted appropriately to realise the world’s energy transition objectives?
• How are oil and gas companies responding to higher oil prices? Are they changing their strategy decisions in order to ensure adequate supplies while minimising long-term risks?
• How is the business model for US shale evolving? Is the rapid growth of production in 2018 still largely based on continuous overspending or is the industry finally moving towards financial sustainability?
• Are business models and financing approaches supporting a shift in power generation investments towards renewables? How are regulators around the world shaping enabling investments in power system networks and flexibility?
• What policy and market factors drive energy efficiency spending? What new approaches to financing are emerging for efficient goods and services?
• How are the sources of energy finance evolving? What roles are public financial institutions and utilities playing? How are decision makers addressing investment risks in India and other emerging economies?
• What are governments and the energy sector spending on energy research and development? What are the main considerations facing investors in batteries and the electric vehicle value chain; carbon capture, utilisation and storage; and hydrogen?

The second annual IEA benchmark analysis of energy investment – the lifeblood of the global energy system – presents diverse findings, with upbeat news in some quarters and bearish indicators in others.

World Energy Investment 2017 provides a critical foundation for decision making by governments, the energy industry and financial institutions.

With analysis of the past year’s developments across all fuels and all energy technologies, the report reveals the critical issues confronting energy markets and features the emerging themes for 2017 and beyond. It highlights the ways in which investment decisions taken today are determining how energy supply and demand will unfold tomorrow, complementing the forecasts and projections found in other IEA publications.

This year’s edition examines the financial landscape for energy investment and how financing flows are evolving in relation to renewable energy expansion, shorter-cycle oil and gas projects, and innovations in energy efficiency financing.

World Energy Investment 2017 addresses key questions, including:

• Which countries and policies attracted the most energy investment in 2016?
• Investments are growing the fastest in which fuels and technologies?
• How are oil and gas companies reinventing themselves to survive the new technology and price environments in the sector?
• How might energy investment trends affect energy security and climate change mitigation?
• How are business models evolving with the changing availabilities of capital for different energy sources?
• What are governments and the energy sector spending on energy R&D, and who are the biggest spenders?

In this inaugural annual report on energy investments around the world, the International Energy Agency (IEA) looks at the lifeblood of the global energy system: investment. The ability to attract and direct capital flows is vital to transitioning to a low-carbon economy while also maintaining energy security and expanding energy access worldwide. The success or failure of energy policies can be measured by their ability to mobilise investments.

The new report measures in a detailed manner the state of investment in the energy system across technologies, sectors and regions. The analysis takes a comprehensive look at the critical issues confronting investors, policy-makers, and consumers over the past year.

World Energy Investment 2016 addresses key questions, including :

• What was the level of investment in the global energy system in 2015? Which countries attracted the most capital?
• What fuels and technologies received the most investment and which saw the biggest changes?
• How is the low fuel price environment affecting spending in upstream oil and gas, renewables and energy efficiency? What does this mean for energy security?
• Are current investment trends consistent with the transition to a low-carbon energy system?
• How are technological progress, new business models and key policy drivers such as the Paris Climate Agreement reshaping investment?

World Energy Investment 2016As a unique benchmark of current investment trends, serves as a complement to the forecasts and projections found in other IEA publications and provides a critical foundation for decision making by governments and industry.

The second edition of the World Energy Employment (WEE) report tracks the evolutions of the energy workforce from before the pandemic, through the global energy crisis, to today. The report provides a comprehensive stock-take of energy employment with estimates of the size and distribution of the labour force across regions, sectors, and technologies. The dataset provides granularity on workers along the entire energy value chain, covering fossil fuel supply, bioenergy, nuclear, low-emissions hydrogen, power generation, transmission, distribution, and storage; and key energy-related end uses, including vehicle manufacturing and energy efficiency for buildings and industry, among other segments. Additionally, WEE 2023 includes for the first time employment data for the extraction of selected critical minerals, including copper, cobalt, nickel and lithium.

This year’s report also benchmarks energy employment needs against an outlook to 2030 across IEA scenarios, outlining key policies that could help countries cultivate and maintain a skilled energy workforce throughout the energy transition.

WEE 2023 explores in depth the risks of skilled labour shortages and how this may influence the outlook for the industry and includes new analysis on skills, certifications, wages, and job postings. The findings signal that the ongoing shifts in energy employment will continue and can present both opportunities and risks. With the right enabling measures in place, policy makers, energy companies, labour representatives, educational and vocational training institutions, and other key stakeholders can work in concert to avoid labour transition risks while ensuring the transition to cleaner sources of energy remains people-centred.

The inaugural edition of the World Energy Employment Report is – to the best of our knowledge – the first comprehensive inventory of the global energy workforce.

The report presents new estimates of the size and distribution of the labour force, across regions and technologies, and increases the granularity on the number of workers along the entire energy value chain. This includes fossil fuel and bioenergy production; power sector generation, transmission, distribution and storage; and end uses, including vehicles and energy efficiency for buildings and industry. It also details segments of the value chain where these jobs are located, including raw materials, manufacturing, construction, utilities, and wholesale, as well as how many are employed for building new projects versus operating existing energy facilities, which includes those working in operating and maintenance of plants. It also provides estimates for emerging segments for energy, including clean energy innovation.

This mapping can serve as a much-needed foundation for global energy decision makers, and provides important insights about the potential opportunities and impacts to labour markets under different drivers, particularly the transitions to clean energy, as well as shifting or development of supply chain capacities. How these labour markets evolve will be explored in depth by scenarios presented in our World Energy Outlook series.

World Energy Balances provides comprehensive energy balances for all the world’s largest energy producing and consuming countries. It contains detailed data on the supply and consumption of energy for over 160 countries and regions, including all OECD countries, and more than 100 other key energy producing and consuming countries, as well as world totals and various regional aggregates. The book includes graphs and detailed data by country for all energy sources – coal, gas, oil, electricity, renewables and waste - expressed in balance format. Alongside this, there are summary time series on production, trade, final consumption by sector, as well as key energy and economic indicators and an overview of trends in global energy production and use.

More detailed data in original units are published in the companion publication World Energy Statistics.

World Energy Balances provides comprehensive energy balances for all the world’s largest energy producing and consuming countries. It contains detailed data on the supply and consumption of energy for 150 countries and regions, including all OECD countries, over 100 other key energy producing and consuming countries, as well as world totals and various regional aggregates. The book includes graphs and detailed data by country for all energy sources – coal, gas, oil, electricity, renewables and waste - expressed in balance format. Alongside this, there are summary time series on production, trade, final consumption by sector, as well as key energy and economic indicators and an overview of trends in global energy production and use.

More detailed data in original units are published in the companion publication World Energy Statistics.

This publication presents comprehensive energy balances for all the world’s largest energy producing and consuming countries. It contains detailed data on the supply and consumption of energy for 150 countries and regions, including all OECD countries, over 100 other key energy producing and consuming countries, as well as world and regional totals. The book includes graphs and detailed data by country for all energy sources – coal, gas, oil, electricity, renewables and waste - expressed in balance format, for the year 2015. Alongside this, there are summary time series on production, trade, final consumption by sector, as well as key energy and economic indicators. The volume also presents provisional 2016 supply data for OECD countries, and initial 2016 estimates for non-OECD countries’ production and trade of natural gas, primary coal and oil.

More detailed data in original units are published in the 2017 edition of World Energy Statistics.

The data service contains energy balances for over 150 countries and regions. The figures are expressed in thousand tonnes of oil equivalent (ktoe) and in terajoules. Conversion factors used to calculate energy balances and indicators such as GDP and population are also provided. In general, the data are available for 1971 (1960 for OECD countries) to 2014, with preliminary estimates of 2015 production (and trade when available) for natural gas, primary coal and oil.

Definitions of products and flows, explanatory notes on the individual country data, indicators (including GDP, population, industrial production index and ratios calculated with the energy data) and net calorific values are also included.

This publication provides a range of comparable, cross-national education indicators for 19 middle-income non-OECD countries comprising over 50 per cent of the world population.  In particular, it examines the extent to which countries were able to widen participation in higher levels of education between 1995 and 2002/3. Coverage includes data on educational attainment, education expectancy, enrolment rates of different age groups, age ranges of universal primary and secondary education, female participation, upper secondary enrolment patterns, entry rates into upper secondary and tertiary education, graduation rates, grade repetition, population and GDP, expenditure on education, teaching staff, class size, teachers' salaries, and expenditure per student. By examining the data from these countries and comparing it to that of OECD countries,  this volume examines the factors which can generate growth in education in one country and constrain it in another.

The countries participating in this study include: Argentina, Brazil, Chile, China, Egypt, India, Indonesia, Jamaica, Jordan, Malaysia, Paraguay, Peru, the Philippines, the Russian Federation, Sri Lanka, Thailand, Tunisia, Uruguay and Zimbabwe.

The 1990s have witnessed growing demand for learning throughout the world. Compelling incentives for individuals, economies and societies to raise education levels have driven increased participation in a widening range of learning activities by people of all ages, from the earliest years through later adulthood. Educational progress has, however, been uneven both across and within countries. This volume sheds light on the comparative performance of education systems, with an analysis that extends to the financial and human resources invested in education, how education and learning systems operate and evolve, and to the returns to educational investment. The data presented allow countries to see themselves in the light of other countries’ performance and to assess whether variations in educational experiences are unique or if they mirror differences observed elsewhere.

COUNTRIES COVERED Argentina, Brazil, Chile, China, Egypt, India, Indonesia, Jordan, Malaysia, Paraguay, the Philippines, Uruguay, the Russian Federation, Sri Lanka, Thailand, Zimbabwe and OECD countries.

In a world where the kind of things that are easy to teach and test have also become easy to digitise and automate, it will be our imagination, our awareness and our sense of responsibility that will enable us to harness the opportunities of the 21st century to shape the world for the better. Tomorrow’s schools will need to help students think for themselves and join others, with empathy, in work and citizenship. They will need to help students develop a strong sense of right and wrong, and sensitivity to the claims that others make.

What will it take for schools to be able to do this? Andreas Schleicher, initiator of the OECD Programme for International Student Assessment (PISA) and an international authority on education policy, has accompanied education leaders in over 70 countries in their efforts to design and implement forward-looking policies and practices. While improvement in education is far easier to proclaim than achieve, in this book Schleicher examines the many successes from which we can learn. This does not mean copying and pasting solutions from other schools or countries, but rather looking seriously and dispassionately at good practice in our own countries and elsewhere to understand what works in which contexts. Trained in physics, Schleicher offers a unique perspective on education reform: he convincingly argues that it should not necessarily be less of an art, but more of a science.

“No one knows more about education around the world than Andreas Schleicher. Full stop. For the first time, he's collected 20 years worth of wisdom in one place. World Class should be required reading for policy makers, education leaders and anyone who wants to know how our schools can adapt for the modern world – and help all kids learn to think for themselves.” – Amanda Ripley, author of The Smartest Kids in the World, a New York Times bestseller

“[Schleicher]…grasps all the key issues, and does so through keeping his ear to the ground and by working out solutions jointly with a variety of leaders at all levels of the system, and in diverse societies” – Michael Fullan, Global Leadership Director, New Pedagogies for Deep Learning

“Every visionary leader who is serious about improving student learning should add the data-driven World Class: How to Build a 21st-Century School System to the top of his or her reading list.” – Jeb Bush, 43rd Governor of Florida, and Founder and Chairman of the Foundation for Excellence in Education

“…a must-read for those who wish to create a future in which economic opportunity can be shared by all.” – Klaus Schwab, Founder and Executive Chairman of the World Economic Forum

"In this timely and forward-looking book, one of the most knowledgeable educators in the world draws on impressive data, keen observations, and considerable wisdom to indicate the paths to effective education for all young people." – Howard Gardner, Senior Director of Harvard Project Zero, Harvard Graduate School of Education