A previous version of this article erroneously referred to "On-Grid" projects in Figure 1, when it should have referred to All Generation projects.  Relevance: At the G7 summit in June, the US and its allies prioritized the growing energy and climate crises, announcing a $600bn initiative for emerging markets infrastructure.

BLUF Diesel prices in Nigeria have almost quadrupled since 2021 due to increased price volatility in global oil markets and the devaluation of the Naira, the local currency.

Countries in Africa need a massive scale-up of clean energy. But the pandemic and the Russian invasion of Ukraine are disproportionately affecting these economies— and having especially severe effects on their energy sectors. Our latest analysis, “New Headwinds to Clean Energy: Four crippling squeezes on SDG7 and priorities to address them,” shows that both grid and off-grid clean energy investments are being constrained. Fellow Ben Attia, co-author of the report and Research Lead for Energy, Climate and Sustainability at Blackrock discusses with co-author and host Todd Moss the four interlocking squeezes that are disrupting energy development across emerging and frontier markets, and four priority areas to tackle them. Watch their Coffee Break Briefing discussion below, and view all our past briefings here.  

Executive Summary Shocks from the pandemic and the Russian invasion of Ukraine are disproportionately affecting emerging and frontier economies – and having especially severe effects on their energy sectors.

Higher prices for oil & gas should be good news for wind & solar energy and drive an even faster energy transition – at least in rich countries.