IEA – Clean Energy Innovation Policies in Emerging and Developing Economies, Aug 2024

Emerging market and developing economies play a critical role in addressing the climate challenge through clean energy innovation. Technological innovation is essential for all countries to achieve clean energy goals and without it, energy and climate targets will be unattainable. According to the IEA, new technologies not yet available on the market will be key to achieving global net zero CO2 emissions by mid-century. Many emerging economies are already implementing robust policies and programs to advance their clean energy transitions and harness the economic benefits. However, they face challenges such as limited public budgets, competing social needs, and a lack of advanced research. Despite these obstacles, there is a significant economic opportunity for EMDEs to grow their clean energy industries and become exporters of clean energy technologies. Nurturing new technologies can lead to local economic prosperity and clean energy transitions will provide market opportunities for all economies in the future.