Corporate revenues from clean energy production and manufacturing hit $2.6 trillion in 2022, accounting for 2.6% of the world's GDP, according to an analysis published Thursday by BloombergNEF.
The Clean Energy Exposure Ratings help investors see the opportunities of the low-carbon transition by identifying and rating 8,182 listed companies with revenue exposure to clean energy activities, out of 50,000 assessed, BNEF said in a release.
Roughly one-fourth of the 8,182 listed companies explicitly disclose relevant revenue, while BNEF analysts identified the remaining 5,402.
The $2.6 trillion represents 2.6% of GDP, with power utilities and renewable energy players accounting for two-thirds of revenues. Listed electric utilities accounted for 42% of the total, followed by renewable energy manufacturers and developers contributing 25% in clean energy revenues in 2022. Automakers had low exposure, according to the ratings.
BNEF also found that top global equity indices display less than 5% exposure to clean energy revenues, and clean energy revenue exposure of the most popular ESG exchange-traded funds is marginal, while more targeted equity ETFs have higher clean energy exposures.
In private markets for clean energy, Blackstone announced Thursday the final close of an energy transition credit fund that it said represents the largest energy transition private credit fund ever raised. The Blackstone Green Private Credit Fund III closed at $7.1 billion.
Robert Horn, global head of Blackstone Credit's Sustainable Resources Group, said in a release that with the energy transition impacting large sectors of the economy, there is "a growing need for efficient private capital."