NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Achieving the transition to net-zero emissions by 2050 requires substantial climate mitigation investment in emerging market and developing economies, which currently emit around two-thirds of greenhouse gases.

These countries will need about $2 trillion annually by 2030 to reach that ambitious goal, according to the International Energy Agency, with the majority of that funding flowing into the energy industry. This is a fivefold increase from the current $400 billion of climate investments planned over the next seven years.