Where do the big bucks for green transition go? Tns of USD needed for the green transition globally would require joint efforts from both the private and public sectors and some areas of the green transition will draw in more funding, CNBC reports, citing asset managers. Global head of Macquarie Asset Management’s Green Investment Group Mark Dooley sees a large portion of the investments going towards transmission grids with a growing appetite for new technologies related to energy transition, including electric vehicles. “It’s a tall order, but the feeling that we have, the experience we have, is that the investor appetite to be part of this transition is enormous,” Dooley said. Clean energy investments need to reach over USD 4 tn by 2030, according to the International Energy Agency, while the International Renewable Energy Agency puts the number at USD 44 tn by 2030 if the world stays on track towards the 1.5 degrees global warming goal.

Miners look beyond China: Growing interest in the processing of energy transition metals outside China is being triggered by growing geopolitical conflicts and chances of industrial decoupling, one of Asia’s leading hedge funds Tribeca Investment Partners told Bloomberg. Portfolio Manager John Stover said miners will look into appending processing capacity along large deposits with a move downstream. “It’s just supply chain 101, you don’t want to be concentrated in an area where you have doubts about the future in one way or another,” partner at Tribeca Capital Scott Clements said. “Geopolitically, it’s pushing people to do that and governments are throwing money at it,” Clements added.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Ice melting in Antarctica is slowing down the ocean’s water flows and could have an impact on marine food chains and the stability of ice shelves, a new study published in Nature found. The slowed movement of water flows hinders the delivery of heat, carbon, oxygen, and vital nutrients around the globe. (Reuters)
• The companies developing the 2 GW Al Dhafra PV park in Abu Dhabi — which include Taqa, Masdar, EDF Renewables, and China’s Jinko Power — have completed installation of the plant’s solar panels, which total some 3.5 mn PV units. (Zawya)
• Mining debris could be a lifeline for rare earths as the West tries to wean themselves off supplies from China. (Reuters)