Investment in Sustainable Energy Reach $155 Billion in 2008, UNEP Report Says

Despite the economic downturn in 2008, investments in sustainable energy projects totaled nearly $155 billion, up from $148 billion in 2007.

In "Global Trends in Sustainable Energy Investment 2009," which was sponsored by the United Nations Environment Program, Achim Steiner, UNEP executive director, wrote, "While the $155 billion sustainable energy investment in 2008 and the multi-billion stimulus packages can go a long way, investment needs to reach a half trillion dollars per annum by 2020 to help ensure a peak in greenhouse gas emissions by then...Perhaps the biggest stimulus package of them all will happen in Copenhagen if governments agree a scientifically-credible and forward-looking new climate agreement."

By comparison, investments in sustainable energy were $22 billion in 2002, $27 billion in 2003, $35 billion in 2004, $60 billion in 2005, and $93 billion in 2006. Looked at another way, 2008 was the first time that new power generation associated with renewable energy topped the investment in new fossil-fuel fired generation.