Funding the Global Energy Transition Remains a Major Challenge

Last month, the Organisation for Economic Co-operation and Development announced that the world's richest nations had finally hit a target of $100 billion in annual transition funding in 2022. In fact, they had 'materially surpassed' that target by over $15 billion, the OECD said. Even so, the ultimate target of mobilizing trillions in green finance over the coming couple of decades remains as elusive as ever.

The suggestion of over $1 trillion in annual investments also has the support of India and African countries. It makes sense that the potential beneficiaries of that annual trillion dollars would support the idea. It makes less sense for the potential providers of that trillion to sign off on the plan—because they are not exactly flush with cash. There is no G7 nation right now that is not experiencing a degree of financial trouble. From the U.S.

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