Disproportionate investments in energy transition favour developed countries

The 120 developing nations only secured 15% of the total investments in renewables.

Energy transition-related investments reached a record high of over $2t in 2023 but the investments are heavily skewed towards developed countries, according to the International Renewable Energy Agency (IRENA).

IRENA said emerging and developing markets accounted only for just over half of the global investments, with the 120 developing nations attracting only 15% of the total.

ALSO READ: Asia to lead grid expansion investments

For example, Sub-Saharan Africa only secured less than 1.5% of the total investment even if it has the highest share of energy-deprived populations.

“Despite considerable renewable potential, developing countries have received disproportionately low levels of investment,” it said.

IRENA also noted that fossil fuel received $1.3t of subsidies in 202 which is equal to the annual investment needed to triple renewable energy generation capacity by 2030.

Also Read

Terra Solar taps Energy China for 3.5 GW plant's EPC

MGen may ‘mimic’ $4b solar project north of Manila

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit