CGEP at COP27: Mobilizing Finance for Clean Energy in Emerging Markets
Nearly 600 million people across Africa lack access to energy. At the same time, developed nations are falling short on their promise to deliver US$100 billion a year in climate finance to less wealthy countries. According to the International Finance Corporation (IFC), the financing gap for climate in developing economies amounts to $23 trillion between now and 2030—or roughly $1.5 trillion per year. To make matters worse, countries around the world are facing the greatest energy crises since the 1970s, forcing many European energy companies to scramble and find new sources like Africa for energy supply.
Please join Columbia University’s Center on Global Energy Policy, along with the United States International Development Finance Corporation (DFC) and the Mo Ibrahim Foundation, for a special event to explore concrete actions that can be taken to mobilize private capital for energy opportunities in Africa and other emerging markets while pushing forward with aggressive climate action.
The discussants will explore a range of ideas and issues including: tools for de-risking emerging markets investments; novel approaches to blended finance to unlock and mobilize capital; and how the decision makers can ensure equitable solutions in finance.