Financing clean energy technology in BRICS cities: recommendations from renewable energy financing experts in BRICS

Abstract

The role of cities in the battle against climate change must be strengthened. Considering the acceleration of urbanisation, the high numbers of people now living in cities and their importance from an asset value and economic growth perspective, cities are well-positioned to respond to the challenge of climate change. But cities have limited powers. Decentralised structures in countries such as China show promising results in developing new technologies and industries that support their economies to transition away from fossil fuels. These developments also contribute to reimagining the typical energy sector economy, through innovations that create new jobs, new supply chains and higher productivity.