To achieve net-zero emissions by 2050, it is necessary to increase annual investment in clean energy in emerging and developing economies by over seven times, from less than US $150 billion in 2020 to more than US $1 trillion per year by 2030. However, these markets require access to financing and expertise to construct their energy systems in a sustainable manner. It is crucial to keep financing costs low, particularly for financially constrained countries, enabling them to make long-term investments. Upfront capital costs for renewables can be up to 60% higher than those for coal, which often favors the incumbents. Therefore, it is essential to mobilize capital markets to assist emerging economies in overcoming historical financing challenges.