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Developing countries outpace developed world in renewable energy investment

Snapshot of Te Mihi construction update video of December 2011 (source: GRC/ YouTube)
Alexander Richter 30 Mar 2016

In 2015 for the first time, renewable energy investment represents more than half of all investments in energy with developing countries outpacing the developed world.

In a recent report published by the United Nations Program for the Environment (UNEP) it is reported that “for the first time in 2015, investments in renewable energy were higher in the developing country than in developed countries”, according to Achim Steiner, Executive Director of UNEP.

Investments fell last year in industrialized countries (-8%, US $ 130,000 million) and progressed significantly in developing nations (+ 19%) to reach $ 156,000 million. the tenth report UNEP on this issue, released Thursday, also stipulates that investments in the sector of renewable energies (excluding large hydro) reached a new record. “the set of renewable energy investments amounted to US $ 286,000 million, 3 % more than the previous record set in 2011 , “says the UNEP said in a statement.

In 2014, this amount includes the amounts spent on new facilities, new technologies and research and development (R & D) was US $ 270,000 million.

Although only increased 8% in China, the Asian giant is clearly the leading investor in renewable energy with US $ 102,000 million spent last year. India (10,000 million), South Africa (4.500 million), Mexico ( 4,000 million) and Chile (3,400 million) increased their investments, and new nations such as Morocco, Turkey and Uruguay “entered the list of countries that invest more than US $ 1,000 billion” annually. in the developed world, the outlook is contrasted Europe fell sharply (-21%) to US $ 48,000 million spent, that is according to the UNEP “the lowest figure recorded in the continent in nine years, and that despite record investments in offshore wind projects “.

The trend is explained by weak policies and support to less favourable renewable energy growth. the amounts invested progress in the United States (+ 19%, 44,000 million) and remain stable in Japan (36,000 million dollars).

Source: El Pais, the UNEP