Italy Backs Energy Transition Funding for Developing Economies

Developed economies with higher per-capita emissions could help developing economies to transition away from fossil fuels and accelerate clean energy rollout, Fabio Panetta, the governor of Italy’s Central Bank, said on Monday. The plan would help reduce the overall cost of the energy transition globally, Panetta said at a G7 - IEA Ensuring an Orderly Energy Transition conference hosted by the Italian G7 Presidency and the International Energy Agency in Rome. “Financing transition projects in emerging market and developing economies…