Honouring $100bn/y climate-finance pledge key to catalysing developing country energy transitions

Annual clean energy investment in emerging and developing economies needs to increase by more than seven times, from less than $150-billion in 2020 to over $1-trillion by 2030, if the world is to reach net-zero emissions by 2050, a new report shows. The ‘Financing Clean Energy Transitions in Emerging and Developing Economies’ report warns that economies in Asia, Africa and Latin America are set to account for the bulk of emissions growth in the coming decades unless stronger action is taken to transform their energy systems.