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By Leïla KAMARA*
Private capital has strong reasons to flow toward emerging economies.
First, climate action is diverging sharply across regions. The USA officially withdrew from the Paris Agreement on 20 January 2026, after accounting for 12% of global GHG emissions in 2022, a share that fell by only 4% between 1990 and 2023, far behind the European Union’s 33.7% reduction over the same period(1).
Emissions rose sharply elsewhere: by 161% in the Middle East/North Africa and by 201% in Asia. Meanwhile, the global average temperature reached 1.6°C above pre-industrial levels in 2024, capping the warmest ten-year period on record (2015–2024). Global mean sea level has risen 3.7mm per year since 1999 (9.4cm in...
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