Global Leaders Triple Clean Energy Investments
The World Economic Forum has introduced a new alliance to create a platform for developing economies to spotlight their clean energy needs, exchange successful strategies, and sustainably hasten their energy transitions.
This group, called the Network to Mobilise Clean Energy Investment for the Global South, includes over 20 CEOs and government ministers from various countries like Colombia, Egypt, India, Japan, and more.
The main goal of this group is to create a space where these countries can work together to speed up the use of clean energy. They will share good ideas, come up with new ways to get clean energy funding and learn from each other's successes.
According to Roberto Bocca from the World Economic Forum, we really need to move faster in using clean energy to tackle climate change. The group aims to help by finding ways to get more money invested in clean energy in these developing countries.
In addition to this, the Forum released a report that gives a plan for making sure the move to clean energy is fair and includes everyone. It suggests that the annual investment in clean energy in developing countries needs to triple from $770 billion now to $2.2-2.8 trillion by the early 2030s.
To lead this new group, two important people will be in charge: Rania A. Al-Mashat, Minister of International Cooperation of Egypt, and Samaila Zubairu, President and Chief Executive Officer of the Africa Finance Corporation. They will work with the World Economic Forum to make sure the group does useful things.
The group also wants to show how important and full of potential these developing nations are to the whole world. They think that by helping these countries use clean energy, they can also ensure they grow in a way that is good for everyone.
So, besides working on the big picture, the group will also focus on helping local areas, like starting a special project for Colombia to get more money for its clean energy plans.
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Source: World Economic Forum