Now, in many parts of the world, installing renewable energy is cheaper than building coal-fired plants. From solar panels to wind turbines, renewable energy is on the rise. But there's a problem: Carbon emissions are still soaring.
In the emerging and developing nations that matter most for the climate's future, high-tech gear and cash alone won't be enough to shift away from carbon-intensive infrastructure. Without viable futures for the people that depend on burning fossil fuels, lasting change will not be achieved. "Something more foundational has to shift," climate policy expert Jeffrey Ball says.
In a piece below, Ball explores how money is changing the climate, outlines who is calling the carbon-relevant shots in the developing world, and discusses what is needed to drive more environmentally-friendly investments in places like Southeast Asia, Latin America, and Africa.