Opinion: How COP 28 pledges pave way for private sector-led clean energy

If the big news of 2023 was all about achieving a global commitment to transition away from fossil fuels, then 2024 must be the year that the public and private sectors step up to put the world within reach of our climate goals. The United Nations climate conference, COP 28, led to more than $85 billion in commitments to climate financing, which will be a game changer if we focus on attracting and scaling up private sector investments in the developing world. These funds should go a long way to enticing even more private sector investments that not only open opportunities for reasonable returns but strengthen local economies and increase food security and resilience — particularly in the global south.