More private investment needed to finance EM green transition, says IEA

The IEA says the investment needed to support developing countries in their shift to clean energy will need to increase from $770bn in 2022 to as much as $2.8tn. A new report says the investment needed to support emerging markets and developing economies in their shift to clean energy will need to be trebled by the early 2030s. Public investment will not be enough to meet the energy needs of developing economies while tackling climate change, according to a report co-authored by the International Energy Agency.

“Doing good by channelling private capital into clean energy projects has often taken some public incentives to ‘sweeten’ the deal and trigger wider attention and interest into the sector,” Victory Hill Capital Partners chief executive Anthony Catachanas told Sustainable Views. “The issue, however, is that private capital has now been hooked on the sweeteners and incentives, expecting support within every clean energy technology both proven and unproven,” he said. “In other words, we have all gotten used to drinking our espressos with sugar.”


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