Funding the Global Energy Transition Remains a Major Challenge

Last month, the Organisation for Economic Co-operation and Development announced that the world's richest nations had finally hit a target of $100 billion in annual transition funding in 2022. In fact, they had "materially surpassed" that target by over $15 billion, the OECD said. Even so, the ultimate target of mobilizing trillions in green finance over the coming couple of decades remains as elusive as ever. Popularly known as climate finance, the money that various forecasting agencies say we need to spend every year in order to shift away from…