World Bank NEWS

Some $150bn was invested in clean energy in developing economies last year, according to new International Energy Agency (IEA) analysis. But the Agency believes this figure must hit $1trn by 2030 to deliver a net-zero world.The new analysis, published today (9 June) as part of a collaboration with the World Economic Forum (WEF) and World Bank, assesses the investments made in renewable generation, nuclear generation, biofuel generation and related technologies in recent years.

Mr. Kerry expressed the view in a discussion with Kristalina Georgieva, the head of the International Monetary Fund as part of the 2021 Spring meetings of the IMF and World Bank. They agreed that a “green and resilient recovery” from the COVID-19 pandemic is possible but economic growth globally is likely to be slow and uneven.