Hauwa Ali
The International Renewable Energy Agency (IRENA) is organising Launch of Global Landscape of Renewable Energy Finance 2023 report on February 22.
This was announced on IRENA website, stating that Renewables are key for delivering climate and socio-economic development goals, but investment levels remain far below what is required (almost USD 500 million in 2022, around half of what is required annually up to 2050).
Accprding to the experts, around 80% of global investments are concentrated in solar PV and onshore wind, although investments in other technologies are crucial for decarbonising end uses.
More importantly, in 2021, more than 70% of the world’s population – mostly in developing and emerging countries – received only 20% of global investments, with their share declining over time. A just transition will require a more equitable distribution of investments.
Organised on the side-lines of The Spanish International Conference on Renewable Energy (SPIREC) on 22 February 2023 at 11:00 am CET, the event will present key insights from the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI)’s new joint report, Global Landscape of Renewable Energy Finance 2023.
The presentation includes trends in investment by technology and sector, region, source of finance (public and private), and financial instrument. The role of public funding in driving investments will be discussed, particularly in developing countries that increasingly struggle to attract investments.
