Clean energy investment in most developing economies yet to take off: IEA report

Clean energy investment in many emerging and developing economies (EMDE) remains low due to reduced capital flows to clean energy projects, notes a new report from the International Energy Agency (IEA). These investments are in technologies such as solar photovoltaic, wind, low-emissions power and fuels, electrification of mobility and heat, grids and storage. 

The report notes that though there is an increase in global clean energy investment, most of this growth is in advanced economies and China. “To get on track for limiting global warming to 1.5°C, clean energy investment in emerging and developing economies outside China needs to increase more than sixfold, from $270 billion today to $1.6 trillion by the early 2030s,” highlights the report.