Developing nations risk being sidelined from renewable energy boom

25/9/2024 7:32

        World leaders on Tuesday said that developing nations risk missing out on a push to triple the amount of renewable energy worldwide without financial support from rich countries.
        
        Speaking at a Global Renewables Summit held on the sidelines of the UN General Assembly, Kenyan President William Ruto warned that while the technologies exist to achieve the goal set at the COP28 climate summit in Dubai last year to triple global renewable energy capacity by 2030, without
        investment and support, developing nations will not reap the benefits of clean electricity.
        
        "Africa receives less than 50% of global investment in renewable energy despite being home to 60% of the world's best solar opportunities," Ruto said at the summit. "Although the continent is resource rich, unreliable or expensive, energy limits our ability to harness these resources for development."
        
        With global energy demand on the rise, countries will need to use more renewable energy in order to avoid burning more fossil fuels.