World Bank brief: Scaling Climate Finance to Lower Emissions in the Power Sector
In the current context of overlapping crises, climate action remains critical. Greenhouse gas (GHG) emissions caused by human activities are causing climate change, which in turn is having tragic impacts on people and development in multiple ways.
The energy sector accounts for nearly three-quarters of global GHG emissions. As developing countries strive to provide reliable and affordable access to electricity for all of their citizens, they need to find low-carbon growth paths.
Adequate policy actions, capable institutions, impactful projects and a significant increase in funding from all sources – public and private sectors and international development partners – at affordable terms are needed for a successful power system transition in developing countries.