Developing economies need more climate investment

The International Energy Agency (IEA) warned yesterday (Wednesday) that developing economies are falling behind on green energy investment.

According to the report:

  • 🏭 Most future emissions will come from developing and emerging economies, yet they’re getting only a fraction of global investment
  • 💰 By the early 2030s, they’ll actually need $1T more clean energy investment than wealthy countries each year

And the IEA says that’d mean the private sector stumping up at least 60% of the cash (around $1T per year). But outdated regulation, weak infrastructure, and high interest rates can make investing in these economies pretty tricky.

Intrigue’s take: If you don’t happen to have a spare day to read all 173 pages of this latest IEA report, the main takeaway is pretty clear: whether rich or poor, government or business, it seems we’re all in this one together.

Also worth noting:

  • The report says China installed 100 GW of new solar capacity in 2022, adding ten times Africa’s entire solar capacity in a single year.