Annual spend needs to increase seven times Capital ‘significantly more expensive’ for emerging, developing economies Focus must be on power sector, electrification Emerging and developing economies are set to account for the bulk of greenhouse gas emissions growth in the coming decades unless much stronger action is taken to transform their energy systems, the International Energy Agency said June 9. Emissions from emerging and developing economies (EMDEs) are projected to grow by 5 gigatons over the next two decades. In contrast, emissions are projected to fall by 2 Gt in advanced economies, and to plateau in China, the IEA said in a report, Financing Clean Energy Transitions in EMDEs. “By the end of the 2020s, annual capital spending on clean energy in these economies needs to expand by more than seven times, to above $1 trillion, […]