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 market 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. Over the next decade, the International Energy Agency (IEA) estimates that emerging markets would need to grow their investments by more than double, from 2020 levels, the fastest growth rate among economy types.
- Building awareness and shaping the agenda: increase awareness around the need and opportunities to accelerate the clean energy transition in emerging economies, and specifically map the challenges and barriers that need to be addressed to mobilize increased investments in the energy transition in emerging economies.
- Informing decisions and guiding strategy: provide recommendations for both the public and private sector to address the financing challenge, including government policies and regulatory frameworks, as well as tools and de-risking mechanisms the private sector can use to mitigate risks related to financing clean energy projects in emerging economies.
- Driving collective action and impact: implement the learnings and recommendations in either country pilots or otherwise – dependent on the nature of the recommendations.
For more information or to participate in upcoming workshops and activities, contact Justine Roche (Justine.Roche@weforum.org,) and Bart Valkhof (Bart.Valkhof@weforum.org.)
Livestreamed sessions from Annual Meeting at Davos