According to the United Nations, a total of $71 billion were invested in the green energy industry last year, more than 40% above the year before.
The reasons for this surge are, not surprisingly, climate change, a greater governmental support and high oil prices. However, higher oil prices are not as linked to increases in renewable energy investment as they were in the past, and now both seem to be growing independently, according to Mr Achim Steiner, UNEP Executive Director.
According to the report, although renewable energy investments represent almost 20% of the total, the share of renewable energy is only 2% globally. Developing countries, led by China, India and Latin America, represent around one fifth of the market, despite usual shortages in supplies of conventional energy. The UN report points out that this year renewable energy investments will amount to $85 billion, an increase of $14 billion from last year. The report also identified that the biggest areas of investment growth are venture capital, public markets and private equity.
For additional information:
United Nations Environment Programme
