Emerging economies take lead on going green, but investment needed
Emerging economies are increasingly taking the lead in shifting the world onto a cleaner development path, a senior World Bank official said on Wednesday, pointing to the role of China and India in pushing down the cost of producing solar power.
In India, for example, recent auctions to construct and run solar plants have seen prices for solar energy drop as low as for coal-fired power, tilting the economics of the electricity market towards renewables.
John Roome, senior director for climate change at the World Bank, said India had evolved from a decade ago when it was seen as part of the problem, insisting on its people's right to develop above all else. In the last two years it has become a leader on clean energy and climate action, he said.
World Bank Photo Collection