Clean energy investment in developing economies top global priority: IEA

The world’s energy and climate future increasingly hinges on whether emerging and developing economies are able to successfully transition to cleaner energy systems, according to a new report by the International Energy Agency (IEA).

The special report — carried out in collaboration with the World Bank and the World Economic Forum — sets out a series of actions to enable these countries to overcome the major hurdles they face in attracting the financing to build clean, modern and resilient energy systems that can power their growing economies for decades to come.

Annual clean energy investment in emerging and developing economies needs to increase by more than seven times — from less than 150 billion dollars last year to over 1 trillion dollars by 2030