- Carbon tracker published a report on energy demand in emerging markets
- The report states that the demand for fossil fuels has peaked in developing countries
Financial think-tank organisation Carbon Tracker has published its report titled, ‘Reach for the Sun: The Emerging Market Electricity Leapfrog’. The report, which is co-authored by India’s Council on Energy, Environment and Water (CEEW), has stated that the demand for fossil fuels in electricity generation has peaked in developing countries.
According to the report, the demand for fossil electricity generation has peaked in the countries that account for 63% of electricity demand in the developing world. The report, however, shows that developing countries continue to face barriers in the transition to renewable energy. These challenges include national policy gaps, under-investment, and “…vested interests of some coal and gas exporters and fragile states”.
The report, however, concludes that these challenges are “soluble” and that the key drivers for developing countries will include technology improvements, a desire from developing nations to bring electricity access to those without and a desire from developed nations to align their international financial flows with these commitments, the report says.