Accelerating clean energy transitions is a global imperative for the world to address the climate emergency. The decarbonization of energy production and use will require trillions of dollars to be invested in the deployment of new clean energy capacity and energy efficiency, as well as to retire existing carbon-intensive energy infrastructure that would otherwise lock-in emissions for decades. Current investment levels, however, remain largely insufficient to match the scale and pace needed to finance those transformations.
Our energy future particularly hinges on emerging markets and developing economies (EMDEs), which account for most future growth in energy demand and emissions, and 40% of the reductions needed under a sustainable pathway. A recent report, produced by the International Energy Agency, in collaboration with the World Economic Forum and World Bank, shows that in the next decade, annual clean energy investments in EMDEs need to be multiplied by more than seven – from less than USD 150 billion last year to over $1 trillion – to put the world on track to reach net-zero emissions by 2050.
Initiative objectives
• Build awareness on the need to accelerate investments in clean energy in EMDEs, and map-out the main barriers to clean energy investment in those regions
• Propose effective tools, recommendations, and “bold proposals” for the public and private sector to overcome barriers
• Drive collective action and impact by enabling implementation of recommendations and the most promising bold proposals, as part of country deep-dives
For more information or to participate in upcoming workshops and activities, contact Justine Roche (Justine.Roche@weforum.org).
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