To get on track for limiting global warming to 1.5 °C, clean energy investment in emerging and developing economies outside China needs to increase more than sixfold, from USD 270 billion today to USD 1.6 trillion by the early 2030s, APA-Economics reports citing International Energy Agency report.
The availability of concessional finance – primarily from international development finance institutions – would also need to triple within this timeframe. Investments are needed across a range of different sectors, but three areas stand out, according to the report.
Almost half of the total clean energy investment over the next ten years in emerging and developing economies outside China needs to go to utility-scale solar and wind projects, electricity networks and spending on more energy-efficient building designs and appliances.
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