How to finance the new global clean energy economy

Jan 17, 2022

Clean energy, new global energy economy; wind turbines in a field, sunrise.

The developing world’s lack of access to affordable financing is a major obstacle to ensuring equal access for all to the opportunities of the new clean energy economy. Image: Unsplash / @karsten_wuerth

Fatih Birol

Executive Director, International Energy Agency

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Bar chart showing estimated oil and clean energy equipment market sizes under net-zero scenario, 2020-2050

By 2050, certain clean energy equipment markets combined could be comparable in size to today’s oil market. Image: International Energy Agency

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— Fatih Birol, IEA

Bar chart showing cost of capital to finance the clean energy transition, by economy, 2020

On a path towards net zero emissions by 2050, clean energy investment in emerging and developing economies (outside of China) would need to increase more than sevenfold – from less than $150 billion last year to over $1 trillion by 2030. Image: International Energy Agency

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