More than half of the world’s population, mostly residing in developing and emerging countries, received only 15% of global investments in 2020. The report also noted that, although global investment in renewable energy reached a record high, this still represents less than one-third of the average investment needed each year between 2023 and 2030. Furthermore, investments have become concentrated in specific renewables technologies and uses. “International cooperation must aim at directing these funds to enabling policy frameworks, the development of energy transition infrastructure, and to address persistent socio-economic gaps,” La Camera said. Barbara Buchner, CPI’s Global Managing Director says: “The path to net-zero can only happen with a just and equitable energy transition.

Source: The North Africa Journal July 05, 2023 15:24 UTC