Related Articles
More finance is needed for the energy transition
Forward article link
Share PDF with colleagues

Energy transition spending must increase – IEA

Shortfalls in funding are particularly pronounced in emerging economies, where capital markets can be hard to access

Governments worldwide have spent $320bn to support the energy transition as part of Covid-19 recovery spending, only 2pc of total fiscal support and well short of levels needed to achieve the goals of the Paris Agreement, according to the IEA. The shortfalls are particularly pronounced in emerging economies, many of which face a raft of problems in financing energy transition technologies. These governments have to pursue multiple energy-related development goals—beginning with universal energy access. They also lack adequate access to capital markets to be able to raise debt for infrastructure projects. “Governments need to increase spending and policy action rapidly” Birol, IE

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
PE Live: Low-carbon technologies gaining momentum
30 July 2021
Green hydrogen and CCS can replicate progress of renewables but only with supportive government policy
PE Live: Transition projects need lower cost of capital
30 July 2021
Better management of project risks needed to bring down cost of capital and speed up deployment of low-carbon technologies, panellists say
Mission net zero: part three—geopolitics
30 July 2021
US-Sino tensions could hinder global co-operation on climate and divert government spending away from net-zero push
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video