Tuesday, April 13, 2010

China Leads the World in Clean Energy Investment and Finance According to New Report From Pew Charitable Trusts

China's 2009 clean energy-related investments and finance were the highest of any country in the world according to a new study by the Pew Charitable Trusts. In 2009 China invested nearly $35 billion in the clean energy sector, which was almost twice what the United States invested.

The report, Who's Winning the Clean Energy Race? Growth, Competition, and Opportunity in the World's Largest Economies, also identified the "remarkable growth" in the clean energy sector:
  • Since 2005 global clean energy investments have grown by 230 percent
  • Over the last five years, clean energy investments have increased by 50 percent by the overwhelming majority of G-20 countries
  • In 2009, clean energy investments accounted for more than $160 billion
  • In 2010, clean energy investments are expected to reach $200
Phyllis Cutton, the director of Pew's Global Warming Campaign, said, "Even in the midst of a global recession, the clean energy market has experienced impressive growth. Countries are jockeying for leadership. they know that investing in clean energy can renew manufacturing bases, and create export opportunities, jobs, and businesses."

The report noted that countries with "strong nationwide policy frameworks, including renewable energy standards, carbon markets, priority loans for renewable energy projects and mandated clean energy targets" such as Brazil, China, Germany, Spain, and the UK "have the most robust clean energy sectors as a percentage of their economies." On the other hand, the report said that countries -- such as Australia, Japan, and the U.S. -- that lack such policy frameworks "lag behind."

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