Session 1: Adaptation to the energy transition in fossil fuel-dependent developing countries

Just over 80 per cent of the world's energy demand is currently met by fossil fuels. However, the ongoing climate change emergency has made it imperative that a fundamental shift in the sources of energy that power the day-to-day activities of businesses and households across the globe take place.

This transition away from fossil fuels towards renewable sources of energy is already underway — for every dollar invested in fossil fuels today, $1.80 is invested in clean energy technologies and infrastructure2 — and it is expected to accelerate its pace in the coming years.

This session will address the challenges and opportunities posed by the global energy transition for developing countries reliant on fossil fuel exports.

This includes adapting to decreased fossil fuel demand and securing alternative revenue sources to enhance economic resilience amidst potential shocks like reduced Foreign Direct Investment and asset stranding.
 

Questions to be addressed:

• What are the challenges facing energy export-dependent developing countries?
   
• How are vulnerable countries preparing to address the macroeconomic challenges of the energy transition?
   
• Are there environmentally sustainable opportunities through value addition to contribute to economic growth in these countries?