Investment in sustainable energy in 2009 fell 7% on the year to $162 billion reflecting the impact of the recession on investment in Europe and North America in particular where renewable energy projects found it harder to get finance, a report from the United Nations Environment Program said Thursday
Investment in sustainable energy in 2009 fell 7% on the year to $162
billion reflecting the impact of the recession on investment in
Europe
and
North
America
in particular where renewable energy projects found it harder to get
finance, a report from the United Nations Environment Program said Thursday.
However, financial investment in clean energy in
China
in
2009 surged 53% on the year to $33.7 billion, overtaking the
U.S.
for
the first time, as government measures encouraged the development of large
renewable energy projects and spurred bank lending, the report said.
"The sustainable energy investment story of 2009 was one of resilience,
frustration and determination," said U.N. undersecretary general and U.N.
Environment Program executive director Achim Steiner.
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