$6.4 trillion investment expected in clean technology over 10 years

Clean technology sectors in developing countries are expected to receive more than $6.4 trillion as investments over the next decade, according to a report by infoDev of the World Bank Group. Small and medium-sized enterprises (SMEs) in these sectors will receive $1.6 trillion of the total expected investment.

According to the report, developing countries are likely to face the largest impacts of climate change. In addition to the transfer of appropriate climate and clean technologies to these countries, it recommends that efforts must be made to encourage local firms to participate in business opportunities around climate change. SMEs receive special emphasis in this process as they will be the main drivers of job creation in the future.

“Fostering home-grown climate and clean technology industries in developing countries can create a sustainable and wealth-producing sector of the economy, while simultaneously addressing such urgent development priorities as access to clean and affordable energy, clean water and climate-resilient agriculture,” says Anabel Gonzalez, Senior Director, infoDev.

Clean technology sectors include bio fuels, natural gas vehicles, bus rapid transit, electric bikes, solar thermal, geothermal, electric vehicles, waste, small hydro, onshore wind and water.