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Emerging Economies Set To Snag $29 Trillion In "Climate Cash"

https://safehaven.com/commodities/energy/Emerging-Economies-Set-To-Snag-29-Trillion-In-Climate-Cash.html

The fast-growing cities in emerging markets represent a huge investment opportunity for green initiatives and industries—from renewable energy and electric vehicles (EVs) to green buildings and public transportation and climate-smart water and waste solutions, the IFC says.

The six key areas of green investments—EVs, renewables, waste, water, green buildings, and public transportation—in the world’s emerging cities could attract US$29.4 trillion in investments by 2030, a new IFC report shows.

The institution has calculated that the investment potential in EVs is US$1.6 trillion to 2030, waste solutions could attract US$200 billion, renewable energy US$842 billion, public transportation US$1 trillion, climate-smart water US$1 trillion, and green buildings as much as US$24.7 trillion, for a total global of US$29.4 trillion over the next 12 years.

Of course, city budgets alone will not be capable of financing projects at such an enormous scale and amount, so the private sector, public-private partnerships (PPPs), and green bonds must also be used to finance climate-friendly initiatives, the IFC noted in its report.