Private-sector investments are projected to far exceed public-sector investments in a world drastically cutting greenhouse gas emissions, according to the International Energy Agency.

But public financing is critical in unlocking that private finance, IEA says in its annual World Energy Outlook (page 48) released earlier this month.

Current financing from both sectors lags significantly behind what’s needed, the IEA says. The chart features two scenarios by the IEA about stated commitments and a world that achieves net-zero emissions by 2050.

Importantly, these are not scenarios for what would happen if the status quo continues, which would mean much less financing in both sectors.