Green energy revolution powered by global South

(Eco Business, 15 Jun 2020) Developing countries have made record renewable energies investments in 2019, a new report has found. As the Covid-19 crisis is having an immediate impact on renewables projects, experts say economic recovery plans must include clean energy.

The global South made record renewable energy investments in 2019, a new global trends report has found, as analysts say developing economies are outpacing their developed counterparts in green power generation.

Last year, developing countries other than China and India invested US$59.5 billion in non-fossil fuel energies, according to the Global Trends in Renewable Energy Investment report released today.

In terms of dollars invested in renewables, the developing world made up 54 per cent of the global total, outweighing developed economies for the fifth year in a row.

Countries that are party to the United Nations climate change convention are required under the Paris Agreement to reduce their greenhouse gas emissions to limit global temperature rises in this century to two degrees Celsius above pre-industrial levels. Renewable energies can contribute to meeting the Paris goals.

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Eco Business, 15 Jun 2020: Green energy revolution powered by global South