Developing countries need to reduce investment gap for energy transition

According to a UN Conference on Trade and Development (UNCTAD) report, a green future will remain elusive if the world doesn’t help developing countries close a $2 trillion gap in investment towards an energy transition. Poorer nations have been largely left out despite a near tripling of investments in renewables since the adoption of the Paris Agreement almost eight years ago.

The key points mentioned in the report include:

  • Energy companies among the top 100 multinationals have been increasingly turning towards renewables
  • The pace of investment in renewable energy in 2022 has been slow
  • The largest gaps in Sustainable Development Goal (SDGs)-related investments for developing countries were in energy, water and transport infrastructure

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