A joint report by Orsted and the World Resources Institute (WRI) has called on governments to “work with the private sector” to speed up decarbonisation and avert the worst impacts of climate change.
The report says that “much-needed” investment could be scaled up through conducive regulatory frameworks and policy solutions.
The paper, which will be launched at the Clean Energy Ministerial, tells governments to establish clean energy policies and market instruments to incentivise renewable energy investments.
These include improved planning and permitting policy and investment in modern electricity infrastructure.
Global director of the energy program at WRI Jennifer Layke said: “The policies put in place today will determine whether or not we can transition to clean energy fast enough to protect the earth’s climate.
“It’s up to governments to set our course to a modern, clean, renewable electricity system and the right market signals to spur private sector action.”
Chief executive of Orsted Mads Nipper added: “This is a critical decade of climate action; governments can speed up the renewable energy transition by unlocking private sector capital.
“By designing policies and incentives to attract more investments into renewable energy, governments can remove the challenges preventing the scaling up of renewables.”