‘Decisive’ decade in climate change fight needs lending surge: Governments and companies are working to cut greenhouse-gas emissions
and limit the increase in global temperatures to 1.5 degrees Celsius.
To reach that, Irena, the United Nations climate change and renewable
energy adviser based in Abu Dhabi, estimates that private lenders and
capital markets will have to boost funding for renewable energy projects
nearly fourfold this decade to about $3.2 trillion a year.

Markets are already pushing a shift to renewables as costs for
projects such as solar and wind power have fallen while demand for
energy from carbon-emitting sources has dropped, according to Irena
Director General Francesco La Camera. Oil demand has already peaked and
construction of power plants using renewable energy sources are
consistently outpacing additions of generators using traditional fuels,
he said.

‘Decisive’ decade in climate change fight needs lending surge: Governments and companies are working to cut greenhouse-gas emissions
and limit the increase in global temperatures to 1.5 degrees Celsius.
To reach that, Irena, the United Nations climate change and renewable
energy adviser based in Abu Dhabi, estimates that private lenders and
capital markets will have to boost funding for renewable energy projects
nearly fourfold this decade to about $3.2 trillion a year.Markets are already pushing a shift to renewables as costs for
projects such as solar and wind power have fallen while demand for
energy from carbon-emitting sources has dropped, according to Irena
Director General Francesco La Camera. Oil demand has already peaked and
construction of power plants using renewable energy sources are
consistently outpacing additions of generators using traditional fuels,
he said.Read More