bathinda annual clean energy investments in emerging and developing economies will need to more than triple from 770 billion in 2022 to as much as 28 trillion by the early 2030s to meet rising energy needs and align with the climate goals set out in the paris agreement according to a new report released on wednesday by the international energy agency iea and international finance corporation ifc iea is the global energy authority and ifc is the global development institution focused on the private sector in emerging marketsthe report scaling up private finance for clean energy in emerging and developing economies shows that public investments alone would be insufficient to deliver universal access to energy and tackle climate change increased public funding can be used most effectively in partnership with private sector capital to reduce project risks a concept known broadly as blended finance according to the report twothirds of the finance for clean energy projects in emerging and developing economies outside china will need to come from the private sector todays 135 billion in annual private financing for clean energy in these economies will need to rise to as much as 11 trillion a year within the next decadetodays energy world is moving fast but there is a major risk of many countries around the world being left behind investment is the key to ensuring they can benefit from the new global energy economy that is emerging rapidly said iea executive director fatih birol the investment needs go well beyond the capacity of public financing alone making it urgent to rapidly scale up much greater private financing for clean energy projects in emerging and developing economies as this reports show this offers many advantages and opportunities including expanded energy access job creation growing industries improved energy security and a sustainable future for allthe report emphasizes the need for greater international technical regulatory and financial support to unlock the potential for clean energy in emerging and developing economies emdes by strengthening regulatory frameworks energy institutions and infrastructure and improving access to finance this support can help governments overcome obstacles that deter clean energy investments today including relatively high upfront costs and a high cost of capitalthe battle against climate change will be won in emerging and developing economies where the potential for clean energy is strong but the level of investments is far below where it should be to address the pressing energy demands and emissions reduction goals in emdes we need to mobilize private capital at speed and scale and urgently develop more investable projects said ifc managing director makhtar diop this report is a call to action and offers a clear roadmap on what is needed to meet both climate and energy goalsthe report also identifies the importance of concessional financing for projects that involve newer technologies that have yet to scale and are not yet costcompetitive in many markets such as battery storage offshore wind renewablepowered desalination or lowemissions hydrogen or that are in riskier