Latest data from BNEF's analysts shows investment in renewables and smart-energy technologies worldwide totalled $42.4bn in the third quarter of 2016, down 31% from the second quarter and 43% from the equivalent three-month period of last year.

The research group highlighted weakness in asset finance of utility-scale renewables projects, down 49% year-on-year at $28.8bn, with wind falling 32% and solar 67% lower.