Financing the green transition for emerging markets represents the biggest untapped opportunity for investors in 2023, according to industry experts, but an impending recession could see the ESG agenda shoved on the back burner.

Major economies will largely be on the hook for the estimated $100tn bill to fund the global transition to net zero by 2050 since developing countries are ill-equipped and too cash-strapped to fund renewable energy and infrastructure projects due to the knock-on impacts of extreme weather events amid rising borrowing costs.