The first edition of the EMnet “Greening of the Economy” Working Group Policy Note (2015) provides insights and policy recommendations from the private sector on renewable energy and energy efficiency investment in emerging markets. The analysis is partly based on discussions at the EMnet Working Group meeting held on 5 October 2015 at the OECD headquarters in Paris. Key messages include: 1. With the increasing cost competitiveness of renewables, clean-energy infrastructure projects are becoming more attractive to private investors. 2. Green growth generates opportunities for investment across a range of areas including clean energy, energy efficiency and pollution reduction. Although the SDGs and the recently adopted COP 21 Paris Agreement showcase country commitments to greener growth, countries still need more stable and ambitious policies to promote it. 3. The risk of policy changes remains the key challenge for scaling up investment, and companies continue to stress the importance of a predictable and stable policy environment for investment. 4. Access to finance for small- and medium-sized projects remains a challenge. Creating new tools to pool investments or improve access to capital markets is essential to further expand investment. 5. Further development of new technologies will deeply influence the pace of the transition to a greener economy. Companies are closely following technological developments and increasing investments in research and development.