(This analysis is based on the discussions at a closed-door roundtable discussion organised by IEEFA, along with The India Climate Collaborative, at COP28 in Dubai)
Global energy transition ambitions rely heavily on the climate trajectory taken by emerging markets and developing economies (EMDEs). If the Global South economies do not invest in accelerating energy transition in their respective jurisdictions, worldwide efforts to tackle climate change will hit a major obstacle. Clean energy investments in EMDEs need to more than triple from US$770 billion in 2022 to US$2.2-2.8 trillion per year by the early 2030s to help them reach their energy and climate goals. Around 60% of this will need to come from the private sector.
Blended finance is an effective mechanism for…