Public institutions provide four times as much finance for natural gas as for wind or solar, locking countries into high-carbon energy systems, reports the International Institute for Sustainable Development (IISD), a Canada-headquartered think tank.

A sign marking the location of an underground gas pipeline along a rice paddy in Myanmar, South East Asia, in September 2019. (Photo by Ye Aung Thu/AFP via Getty Images)

Between 2017 and 2019, gas projects in low and middle-income countries received an average of $16bn of international public finance, with 60% of this coming from the World Bank and the Japanese, Chinese and US governments.

This “dash for gas in the Global South” is undermining global climate efforts and may harm emerging economies, says Greg Muttitt of the IISD.

Gas is not required to meet countries’ energy needs as renewable alternatives are available and, in most cases, cheaper, the report adds.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

As countries like Australia and the US expand their liquefied natural gas exports, the public money supporting new gas infrastructure looks “more geared to serving powerful interests than helping Southern countries meet their needs”, Muttitt concludes.