World Economic Forum Launches Global South Clean Energy Investment Network

The World Economic Forum (WEF) has announced the creation of an influential network aimed at mobilizing substantial investments for clean energy development in the Global South. The Network to Mobilize Clean Energy Investment for the Global South brings together over 20 ministers and CEOs from various countries, including Colombia, Egypt, India, Japan, Malaysia, Morocco, Namibia, Nigeria, Norway, Kenya, and South Africa.

This network seeks to serve as a collaborative platform where members can fast-track clean energy capital solutions tailored to emerging market contexts. The alliance will focus on innovative policies, new business models, de-risking tools, and financing mechanisms. The goal is to foster sustainable clean energy capital flows globally while sharing best practices.

The new initiative aims to bridge the significant investment gap in clean energy for developing economies. Although investment in clean energy has risen recently, the WEF notes that it remains highly concentrated in advanced economies and China. The network will address the need for increased investment in the Global South, which requires an estimated $2.2-2.8 trillion annually by the early 2030s to meet energy transition goals.

A new report released by the WEF, “Building Trust through an Equitable and Inclusive Energy Transition,” provides a framework to guide stakeholders in developing economies toward a just, equitable, and inclusive energy transition. The report underscores the importance of considering equity, justice, and inclusivity to avoid delaying the transition.

The network will be co-chaired by Rania A. Al-Mashat, Egypt’s Minister of International Cooperation, and Samaila Zubairu, President and CEO of the Africa Finance Corporation. A specific workstream focused on Colombia was also announced to increase capital for the country’s energy transition efforts.

The initiative emphasizes changing the perception of investment risk in emerging markets, highlighting the presence of de-risking instruments and bankable projects that can yield profitable returns while accelerating development impacts. The network aims to reframe the financing of clean energy in the Global South as a viable investment opportunity crucial for achieving global net-zero emissions.

The network’s establishment is a significant step in enabling access to clean energy finance and investment at the local level, particularly in emerging economies, and underscores the untapped potential of these nations in the global economy. This effort aligns with the broader goal of sustainable growth and positive societal impacts.