Wind, solar and other clean technologies attracted $140bn (�85bn) compared with $110bn for gas and coal for electrical power generation, with more than a third of the green cash destined for Britain and the rest of Europe.
The biggest growth for renewable investment came from China, India and other developing countries, which are fast catching up on the West in switching out of fossil fuels to improve energy security and tackle climate change.
"There have been many milestones reached in recent years, but this report suggests renewable energy has now reached a tipping point where it is as important � if not more important � in the global energy mix than fossil fuels," said Achim Steiner, executive director of the UN's Environment Programme.
It was very encouraging that a variety of new renewable sectors were attracting capital, while different geographical areas such as Kenya and Angola were entering the field, he added.
Subscribe
Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.
Posted on 3rd June 2009
Latest Posts
-
IEMA appoints two new Board Directors
- 28th March 2024 -
Impact Assessment Network Volunteers receive International Association of Impact Assessment (IAIA) Regional Award
- 20th March 2024 -
IEMA launches digital campaign to share knowledge and inspire action in sustainability
- 6th March 2024 -
IEMA comments on 2023 being hottest year on record
- 9th January 2024 -
IEMA reacts to COP28 agreement to transition away from fossil fuels
- 13th December 2023 -
New IEMA social sustainability steering group – express your interest in joining
- 24th November 2023