July 6

Developing Nations Face $1.7 Trillion Clean Energy Investment Shortfall, UNCTAD Says

By Sarmad Khan

Developing countries are facing a massive investment shortfall in the renewables sector and require debt relief to create fiscal space that supports clean energy transition to meet their climate and sustainable development goals.

They require about $1.7 trillion per year in the clean energy sector but only managed to attract foreign direct investment worth $544 billion in 2022, the UN Conference on Trade and Development (UNCTAD), said in its World Investment Report on Wednesday.

Photo courtesy of Science in HD.

Source: The National (link opens in a new window)

Energy, Technology
climate change, decarbonization, renewable energy