Energy Transition Investments and Financing Instruments

Abstract

International organizations representing the interests of energy-deficient developed countries are urging to solve the problem of global warming through the Energy Transition, which implies decarbonization of the world economy. The implementation of the Energy Transition requires annual investments of 3% of world GDP in energy efficiency, renewable energy, electric vehicles, etc. In 2020, despite the acceleration of dynamics, the volume of world investments was more than 5 times lower than required. The leaders in investments in clean energy are the technologically developed countries of Europe, the USA, Japan, as well as developing countries – China and Brazil, striving for technological independence. In order to expand its presence in the promising market for low carbon technologies, the EU pays special  attention  to  innovations  in  the  field  of  clean  energy,  financing  them  through  the Innovation Fund. To prevent Russia’s technological backwardness and reduce the carbon footprint of export products, it is advisable to envisage the possibility of state support for innovative projects in the field of clean energy from the Climate Fund.