Macquarie’s CEO in Singapore: Cheap Fossil Fuels Impede Developing Nations’ Green Transition

At the Bloomberg #NewEconomyForum in Singapore, Macquarie’s CEO Shemara Wikramanayake highlighted that cheap fossil fuels are impeding developing nations’ transition to green alternatives. The CEO emphasized the need for rapid growth in fossil fuel use in Africa for development and prosperity. Additionally, large subsidies for fossil fuels, particularly oil and natural gas, are identified as a major obstacle to limiting global warming.