Private investment in clean energy solutions is growing at an unprecedented rate. But meeting the international community's target to triple renewable energy capacity by 2030 will require a significant step change in policy approaches.
Speaking at a special dialogue convened by Australia during the
@IEA's 2024 Ministerial Meeting, our Global Policy Director
@AndrewWilsonICC stressed three business priorities to speed the energy transition:
➡️ Ensuring all governments establish joined-up domestic energy policy ecosystems -- from clear (and politically stable) targets to effective permitting systems and robust offset markets. These need to be hard-wired into national climate action plans before COP30.
➡️ Repositioning the role of multilateral development banks from risk guarantors to real catalysts of private finance through increased use of equity investments and early-stage grants.
➡️ Rethinking the impact of global macro prudential rules on clean energy investments in emerging economies. Greater balance is ultimately needed between financial stability and climate objectives -- a reflection that the G20 is ideally placed to lead.