The world’s energy and climate future increasingly hinges on decisions made in emerging and developing economies. Developing and emerging economies account for two-thirds of the world’s population but only one-fifth of investment in clean energy – and just one-tenth of global financial wealth.
Today’s development pathway for emerging and developing economies points to higher emissions. But a massive surge in clean energy investment in the developing world can put emissions on a different course. Mobilising capital on a much larger scale will require a dramatic increase in the role of the private sector, and an enhanced role for international and development finance institutions will be critical to catalyse this investment.
InfraCo Asia’s Philippines Smart Solar Network and InfraCo Africa’s Sierra Leone Minigrid projects feature in a newly launched flagship report ‘Financing clean energy transitions in emerging and developing economies’ by the International Energy Agency (IEA), in collaboration with the World Bank and World Economic Forum. Download the full report here.