NAZMEERA MOOLA | Emerging markets can’t pay costs of the zero-carbon transition alone
Urgency and innovation are required to fill the climate-finance gap
Channelling finance to emerging and developing economies is essential to tackle climate change. It is in these countries where the bulk of clean-energy investment is needed to hit the world’s net-zero targets.
According to a new report from the International Energy Agency (IEA), achieving global carbon neutrality by 2050 requires a sevenfold increase in annual clean-energy investment in the developing/emerging world, to $1-trillion, by 2030. Yet the same report concludes that “annual investments across all parts of the energy sector in emerging and developing markets have fallen by about 20% since 2016”...