Untapped Potential: National Development Banks Can Anchor Just Energy Transition
Untapped Potential: National Development Banks Can Anchor Just Energy Transitions, draws on a first-ever comprehensive dataset of G20 national development bank energy finance and shows how governments could redirect billions more toward a just energy transition. This briefing highlights how NDBs have unique tools to steer economies through just, affordable, and country-led energy transitions.
Untapped Potential: National Development Banks Can Anchor Just Energy Transition
As governments look for ways to reduce fossil fuel dependence and build greater energy sovereignty, outdated financial rules, debt burdens, and volatile energy prices continue to hold many countries back, especially in the Global South.
Untapped Potential: National Development Banks Can Anchor Just Energy Transitions, draws on a first-ever comprehensive dataset of G20 national development bank energy finance and shows how governments could redirect billions more toward a just energy transition. This report highlights how NDBs have unique tools to steer economies through just, affordable, and country-led energy transitions.
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Key Findings:
- G20 national development banks’ (NDB) energy finance shows they already provided $36 billion a year for renewables over the last decade (2016-2024) and could add at least $28 billion more by shifting away from fossil fuels.
- Examples from NDBs in Brazil, Germany, Costa Rica, and Mexico show how public banks have unique tools to steer economies through just, affordable, and country-led energy transitions.
- Just a handful of NDBs are fuelling fossil fuel lock-in, with 78% of fossil finance in 2022-24 coming from Canada, South Korea, and China.
- 88% of renewable finance in 2022-24 came from NDBs in China, Brazil, and India.