Thursday
October 15
2020

Emerging Economies Are Playing a Pivotal Role in the Energy Transition

By Haley Zaremba

Historically and contemporarily, the trajectory of the world’s economies and the global energy landscape has remained largely under the purview of the most developed countries in Europe and North America. But as emerging economies like China, India, and Brazil develop, urbanize, and grow at a truly unprecedented pace, the world as we know it is going to change, hinging upon the decisions of these new global powers.  This is especially true when it comes to the global clean energy transition and the fight against catastrophic climate change, which will only work in a scenario in which all the world’s powers–both aging and emerging–work together to curb emissions and create a cleaner, greener energy landscape.

The success of this cooperative venture also depends largely on the innovation of new clean energy technologies and the funding and infrastructure to scale them up. For emerging economies like China, India, and Brazil (among others) whose industrial economies — and therefore carbon footprints — are growing at a breakneck pace, funding for innovative technological research, as well as infrastructure and capacity for implementation, is often lacking.

Photo courtesy of Science in HD.

Source: OilPrice.com (link opens in a new window)

Categories
Energy, Technology
Tags
emerging markets, innovation, renewable energy, solar power, technology