June 23, 2024
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OIL & GAS RENEWABLE ENERGY

World Economic Forum Launches Alliance to Facilitate Clean Energy Investment Growth in Emerging Economies

The world economic forum (WEF), has launched a new alliance, made up of over 20 CEOs, and government ministers, including from across Colombia, Egypt, India, Japan, Malaysia, Morocco, Namibia, Nigeria, Norway, Kenya, and South Africa.

The aim of the alliance is to provide developing economies with an avenue, to raise awareness about their clean energy needs, share best practices and sustainably accelerate their energy transitions.

The network will provide its members to discuss strategies, for accelerating clean energy capital solutions. Through new policies, innovations, business ideas, finance mechanisms, and the best practices for gaining sustainable clean energy capital flow.

Independent newspaper gathered that the head of the World Economic Forum’s Centre for Energy and Materials, Roberto Bocca, said: Accelerating the clean energy transition is imperative to address the climate emergency, but current investment levels remain far below the scale and pace of change needed.

“Unlocking this financing today is not only a key first step towards a secure and equitable energy system tomorrow, but represents a clear opportunity for businesses, as emerging economies account for the lion’s share of the global population.”

The alliance network, will be chaired by two global leaders, working closely with the World Economic Forum to shape its activities: Rania A. Al-Mashat, Minister of International Cooperation of Egypt, and Samaila Zubairu, President and Chief Executive Officer of the Africa Finance Corporation.

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